By: Asia Business Outlook Team | Thursday, 26 October 2023
The lunar tech startup Qosmosys, based in Singapore, has announced a $100 million seed funding round. In a recent statement, it said that the seed capital infusion enables the company to accelerate its strategic objectives, solidifying its standing as a leading private participant in the developing moon economy.
The development of ZeusX, the company's lunar transportation vehicle, and auxiliary technologies meant to support various lunar applications will receive the majority of the funding. Additionally, it stated that this funding is a strong indication of the strong faith that a notable group of private investors has in the goals, objectives, and creative potential of Qosmosys.
Qosmosys said that the company continues to draw investment thanks to a distinctive and protective funding model—an approach that is first in the industry. The framework accepts a small group of investors and protects the interests of all stakeholders in advance of a projected initial public offering (IPO) no later than 2028.
Francois Dubrulle, CEO of Qosmosys, stated, "This historic investment represents a turning point for both Qosmosys and the larger space exploration sector. We are deeply grateful for the unwavering commitment demonstrated by our investors, who share our belief that the moon presents boundless possibilities, not only for democracies around the world but for the betterment of humanity as a whole."
The lack of middlemen or outside marketers in closing this historic seed round, according to Qosmosys Director Paul Cuthbert-Brown, "signals the profound investor enthusiasm for our mission."