Phaistos Investment Fund adds another innovative space technology company to its portfolio, investing in D-Orbit, according to the relevant announcement. D-Orbit is a leader in the global market for space transportation and orbital satellite support services.

D-Orbit is one of the few companies in the world, and the only one in Europe, to have developed the ION Satellite Carrier. This is an orbital transport vehicle that accurately and precisely places small satellites into a defined space orbit, thus providing last-mile satellite delivery services. To date, D-Orbit has completed 13 missions, having transported and orbited over 140 satellites and payloads of various types from third parties and organisations. These include payloads for innovative technology applications, experimental devices from universities and applications from well-known space companies.

In addition, ION is available for lease hosting in-orbit payloads for Satellite as Service, for the development of edge computing and space cloud applications, and for offering satellite service providers, data storage services and advanced computing capabilities in space and on earth. ION also has the capability to carry and host 5G satellite network payloads, creating "5G towers in the sky". D-Orbit aims to play a significant role in the "services in orbit" market, which is expected, along with the last-mile delivery market, to be one of the fastest-growing sectors in the space industry. In this context, the company is preparing to add critical services such as satellite life extension and space debris removal to its portfolio, fulfilling its commitment to enhance space sustainability and environmental responsibility.

The total investment round, in which the Phaistos Fund is participating, is worth €150 million, and among the co-investors are renowned Venture Capitals in the space technology sector. The funds will be used by the company to continue to maintain its first-mover advantage in the space services market and to expand its current services. In parallel and in line with the Phaistos Fund's strategy to grow its portfolio companies, the foundations for the partnership between D-Orbit and OQ Technology have already been laid. OQ Technology is one of Phaistos Fund's initial investments and provides 5G satellite services through a growing network of low-orbit satellites.

Following the investment by the Phaistos Fund, D-Orbit is also establishing a presence in Greece through a subsidiary, making a significant contribution to the transfer of space expertise to Greece.