French space tech startup Aldoria, one of the leaders in the domain of Space Situational Awareness has received Series A Funding of EUR 10 Million from a syndicate of investors.
Formerly known as Share My Space, Aldoria has managed to receive investment of EUR 22 Million in total till date.
“We have been striving for half a decade to make Earth orbits recognized as part of our environment. More and more people in the space community and beyond have become aware of the space debris issue. We are very happy that orbital environment protection is now supported by green finance, and we are therefore particularly proud of our partnership with Starquest Capital through their Protect Article 9 fund, with the continued support of our existing shareholder Expansion Ventures, as well as several public investors,’’ says Romain Lucken, CEO, Aldoria.
The statement adds that the number of active satellites in low Earth orbit is expected to grow from nearly 9,000 today to 40,000 in 2030. The ramifications of this increase are already noticeable. Aldoria’s orbital information system has generated 230,000 independent measurements on 5,000 objects and anticipated 30 million close approaches between resident space objects in 2023. Amid the growing insecurity caused by the lack of space traffic rules, Aldoria is taking control back by advising operators on real-time threats.
The company says that it stands at the forefront of global innovation with its cutting-edge optical system, renowned for its wide field of view capable of detecting large amounts of small objects including stealth satellites. The precision and clarity offered by its patented optical systems provide a competitive edge in capturing detailed information about the space environment. With over 20 customers and a unique network of six optical surveillance stations on four continents, Aldoria is now ready for its next development stage, it says.
Besides expanding the network to 12 stations by 2025, one of the strategic objectives is to develop and refine a multi-sensor approach to address more customer use cases through data fusion. Overall, Aldoria is set to offer a competitive European SSA solution to the global market. The Series A funding will facilitate the expansion of its presence, investments in local talents, and contributions to the growth of the European space ecosystem, in line with upcoming EU space law, it adds.
