# Flexell Space Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/flexell-space-co

- Industry: Aerospace
- Headquarters: Uiwang, South Korea
- Website: www.flexellspace.com/
- Total disclosed funding: $17M
- Latest round: Series A (Jul 13, 2026)
- Investors on record: 9

## About

Flexell Space Co., Ltd. specializes in advanced solar cell technologies for aerospace applications, delivering innovative solutions that enhance efficiency and reduce costs, enabling reliable power sources for space endeavors. Based in Gyeonggi-do, South Korea and founded in 2023, Flexell Space Co., Ltd., a spin-off/in-house venture founded by Ahn Tae-hun (Tim Ahn) from Hanwha Systems, provides space-grade tandem solar cells, satellite power solutions, and advanced solar energy technologies for the space and aerospace industry. The company focuses on developing lightweight, high-efficiency perovskite/CIGS tandem solar cells for satellites and spacecraft, while expanding partnerships with global aerospace and defense organizations. In July 2026, Flexell Space Co., Ltd. raised KRW 25 billion in series A funding from Mirae Asset Venture Investment, Mirae Asset Capital, Industrial Bank of Korea, NH Venture Investment, IBK Securities–Seoul ZV, Korea Investment & Securities, and Korea Credit Guarantee Fund, with participation from InterVest, L&S Venture Capital, and QUAD Ventures. Other unspecified investors also participated in the round.Flexell Space specializes in advanced solar cell technologies specifically designed for aerospace applications, addressing critical challenges in cost, delivery, design, and power output. Their core product line features solar cells utilizing CIGS/Perovskite tandem technology, achieving efficiency levels comparable to traditional III-V cells while offering cost reductions exceeding 60%. These solar cells are lightweight, durable, and flexible, providing over 90% weight reduction, making them ideal for satellites, rovers, and shelters in harsh environments. Their products are marketed primarily to manufacturers of cubesats and large satellites, as well as organizations involved in space exploration and satellite communications across North America, Europe, and Asia.Flexell Space conducts B2B transactions, supplying solar cell technology and deployment modules directly to aerospace and satellite manufacturers. Their revenue model is based on customized contracts that cater to specific client mission requirements. Customers negotiate pricing based on volume and project scope, ensuring tailored solutions that enhance operational capabilities in satellite manufacturing. Their innovative approach contributes to their revenue potential within the aerospace sector.The company will use the July 2026 funding to advance technology development, commercialization, and production scale-up.

## Funding rounds

- Series A, Jul 13, 2026, $17M — Korea Investment & Securities, InterVest, Industrial Bank of Korea, IBK Securities, L&S Venture Capital, Mirae Asset Venture Investment, QUAD Ventures, NH Venture Investment, Mirae Asset Capital

## Investors

- Korea Investment & Securities (https://capitalatlas.ai/funds/korea-investment-securities) — Series A
- InterVest (https://capitalatlas.ai/funds/intervest) — Series A
- Industrial Bank of Korea — Series A
- IBK Securities (https://capitalatlas.ai/funds/ibk-securities) — Series A
- L&S Venture Capital (https://capitalatlas.ai/funds/l-s-venture-capital) — Series A
- Mirae Asset Venture Investment (https://capitalatlas.ai/funds/mirae-asset-venture-investment) — Series A
- QUAD Ventures (https://capitalatlas.ai/funds/quad-ventures) — Series A
- NH Venture Investment (https://capitalatlas.ai/funds/nh-venture-investment) — Series A
- Mirae Asset Capital (https://capitalatlas.ai/funds/mirae-asset-capital) — Series A