Barcelona-based Pangea Aerospace has received €23 million in Series A funding to strengthen its position in the European aerospace sector. The financing round was led by Hyperion Fund, which recently raised €150 million as Europe’s first dedicated fund for aerospace, cybersecurity, AI, and defense. Existing investors such as Primo Capital, through its Primo Space Fund, and CDTI Innvierte also participated in the investment round, alongside former Ariane Group CEO André-Hubert Roussel. This new funding will support Pangea Aerospace in scaling its manufacturing and testing capabilities while advancing its propulsion technologies.
Pangea Aerospace has previously secured over €8 million in funding and has been actively developing propulsion systems aimed at increasing rocket efficiency and reusability. Earlier reports highlighted the company’s collaboration with the European Space Agency (ESA) to develop reusable rocket engine technologies. Compared to past funding rounds, this latest investment substantially boosts the company’s financial position, enabling broader market expansion and deeper involvement in European space initiatives. The company’s focus on sustainable propellants, including liquid methane and oxygen, is an ongoing effort in reducing environmental impact in space travel.
What are Pangea Aerospace’s technological advancements?
Founded in 2018 by a team of aerospace engineers, Pangea Aerospace specializes in propulsion technologies that enhance space travel efficiency. The company has developed advanced materials, aerospike engine technology, additive manufacturing techniques, innovative cooling systems, and methods for maximizing reusability. These advancements aim to lower operational costs for launch vehicles, satellites, and orbital transfers.
Pangea Aerospace is the first company globally to successfully ignite an aerospike engine using sustainable propellants. The aerospike design offers potential benefits over conventional bell-shaped rocket nozzles by improving fuel efficiency and maintaining high performance at varying altitudes. This capability has attracted interest from European institutions and private clients seeking cost-efficient propulsion solutions.
How will the new funding impact Pangea Aerospace’s projects?
The latest investment will enable the company to expand its presence in the European aerospace industry and accelerate the development of propulsion technologies. With eight active contracts, Pangea Aerospace is working on multiple projects, including the ARCOS engine and the reuse of upper rocket stages using aerospike technology.
In collaboration with ESA and other industry partners, the company is also testing key technologies for future reusable rocket engines. The growing interest in reusability aligns with broader industry efforts to reduce launch costs and improve the sustainability of space exploration.
“This investment marks a significant milestone in our mission to revolutionize space propulsion with cutting-edge, reusable, and sustainable technologies,”
stated Pangea Aerospace CEO Adrià Argemí.
With a pipeline of identified opportunities nearing €120 million, the company expects to double its revenue by 2025. The increased financial backing will also support the expansion of manufacturing, integration, and testing facilities, strengthening its ability to compete in the growing European space sector.
Pangea Aerospace’s work in propulsion technology reflects a broader trend in the aerospace industry, where sustainability and cost-efficiency are becoming primary concerns. The use of aerospike engines and sustainable propellants could shape future rocket designs, influencing both commercial and governmental space missions. While the company faces competition from established aerospace firms, securing significant investment and forming strategic partnerships may position it as a key player in Europe’s evolving space market. As demand for reusable and efficient propulsion systems increases, Pangea Aerospace’s technology could play a role in shaping future European and global launch capabilities.
