Zenno Astronautics, an Auckland, New Zealand-based company developing superconducting technologies for space applications, raised an undisclosed amount in seed expansion funding.
The funding round was led by Global From Day One (GD1), with participation from Shasta Ventures, along with continued support from existing investors including Nuance, K1W1, UniServices, NZVC, and New Zealand Growth Capital Partners (NZGCP)’s Aspire Seed Fund. The investment round also attracted new international investors, such as Global Brain, with backing from ANA HOLDINGS and Mitsubishi Electric.
Innovating Satellite Technology
Zenno Astronautics specializes in superconducting technologies designed for high-precision, fuel-free satellite positioning. Its flagship product, Z01, enables satellites ranging from small (50kg) to large (space station-sized) to achieve precise in-orbit maneuvering without relying on traditional fuel-based systems. This not only improves positioning capabilities but also addresses the growing demand for satellites to adjust their orbits to maximize their commercial effectiveness.
At the core of Zenno’s offering is its patented superconducting electromagnet technology, which is built for reliability and scalability in electric space operations. This technology is seen as a critical advancement in satellite mobility, making space operations more efficient and sustainable.
Purpose of the Funding
The newly secured funding will help Zenno accelerate its development and commercialization efforts, particularly in scaling its superconducting technology to meet the needs of a rapidly growing space industry. This includes refining its products to serve a broad range of satellite sizes and operational requirements, as well as exploring potential applications for its technology beyond satellite positioning.