Phaistos Investment Fund invests in D-Orbit, an innovative company in the field of space technology
Phaistos Investment Fund adds another innovative space technology company to its portfolio by investing in D-Orbit. D-Orbit is a leader in the global market for space transportation and satellite deployment services in orbit.
D-Orbit stands out as one of the few companies worldwide, and the sole one in Europe, that has developed the ION Satellite Carrier. This orbital transportation vehicle precisely places small satellites into their designated orbits, providing last-mile satellite delivery services. To date, D-Orbit has successfully completed 13 space missions, deploying over 140 satellites and various payloads from third parties and organizations. These include payloads for innovative technology applications, experiments from universities, and space company payloads.
Satellite as a Service, Space Cloud, and 5G Towers in the Sky
In addition, D-Orbit offers the ION Satellite Carrier for lease, hosting payloads in orbit to provide Satellite as a Service. This includes the development of edge computing applications and space cloud services, delivering data storage and advanced computing capabilities both in space and on Earth. The ION is also capable of transporting and hosting 5G network payloads, effectively creating “5G towers in the sky.” D-Orbit aims to play a significant role in the “in-orbit services” market, which, along with last-mile delivery services, is expected to be one of the fastest-growing sectors in the space industry. To further its commitment to space sustainability and environmental responsibility, the company is preparing to expand its portfolio with critical services such as satellite life extension and space debris removal.
The total investment round, in which Phaistos Fund participates, amounts to 150 million euros, alongside renowned venture capitals in the space technology sector. The funds will be used by D-Orbit to maintain its first-mover advantage in the space services market and to expand its current services. In alignment with Phaistos Fund’s strategy for the growth of its portfolio companies, a collaboration foundation has already been established between D-Orbit and OQ Technology. OQ Technology, one of Phaistos Fund’s initial investments, provides satellite 5G services through a growing network of low Earth orbit satellites.
Following the investment from Phaistos Investment Fund, D-Orbit establishes a presence in Greece through a subsidiary, significantly contributing to the transfer of space technology expertise to Greece.
About 5G Ventures S.A. and Phaistos Investment Fund
5G Ventures S.A., a Hellenic Corporation of Assets and Participations subsidiary, manages Phaistos Investment Fund and signals an innovative approach in supporting a thriving 5G ecosystem in Greece. Phaistos Fund supports enterprises that develop 5G-related products & services and is an effective bridge between State & Private investments, as it brings together the best of the two worlds. It offers unique capabilities and, through its focus on 5G market, Phaistos is best positioned to produce remarkable returns as well as national economic growth. More information about 5G Ventures and Phaistos Fund are available on www.5gventures.gr website, LinkedIn (www.linkedin.com/company/5gventures/) and Twitter (twitter.com/5GVenturesSA).
