Hybrid Propulsion for Space raised €1.1 million from the Geodesic fund and Bpifrance

Hybrid Propulsion for Space, a Bordeaux, France-based space company building rocket propulsion technologies, announced completing a €1.1 million ($1.2 million) seed funding round.

The money was raised from investors including Geodesic France, French Tech Seed and Bpifrance. The proceeds will be used to accelerate the development of its OB-1 reusable rocket launcher.

Hybrid Propulsion for Space (HyPrSpace), founded in 2019 by Alexandre Mangeot, Sylvain Bataillard and Vincent Rocher, is working on the development of a space launcher using hybrid propulsion propulsion technology. The company says it is low-cost to develop, manufacture and operate, it cannot explode and uses harmless propellants with no associated toxicity. Thrust modulation, thrust termination and re-ignition are possible, allowing the landing of HRE powered boosters and multiple orbits upper-stage mission.