Singapore-based startup Qosmosys, which is backed by the investment firm Orient G, has announced that it has raised $100 million in seed funding for its space transportation vehicle, ZeusX.
This is a significant milestone for the company, as the funding will allow it to continue developing and refining its technology.
With its innovative space transportation vehicle, Qosmosys hopes to transform the way space exploration is conducted. The company's mission is to make space more accessible to everyone, and this seed funding will help it get one step closer to achieving that goal.
The funding comes from a mix of venture capital, family offices, and sovereign wealth funds. The startup, founded in 2020, has stated that the $100 million in seed capital will help expedite the company's strategic goals and solidify its position as a leading private player in the emerging moon economy.
Specifically, the funds will be used to further develop the company's flagship product, ZeusX, a lunar transportation vehicle. In addition, the capital will be used to develop complementary technologies, such as lunar surface infrastructure, to support a range of lunar applications. With this new funding, Qosmosys is poised to make a significant impact on the future of lunar exploration and development.
Qosmosys competes with some of the biggest names in the industry, including Blue Origin, Astrobotic Technology, Lockheed Martin, NASA, and Ispace.
While these companies have a significant head start in the development of lunar technology, Qosmosys believes that its unique approach and innovative technology will give it a competitive advantage and enable it to carve out a space for itself in the rapidly expanding lunar market.