# Innospace

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/innospace

- Industry: Aerospace
- Headquarters: South Korea
- Website: www.innospc.com/
- Total disclosed funding: $30M
- Latest round: Series B (Jul 29, 2021)
- Investors on record: 16

## About

Innospace was founded in 2017 in South Korea, focusing on the development of launch vehicle solutions. The firm has successfully completed 4 deals as of July 29, 2021, and raised a total of KRW 25 billion in its Series B funding round from investors such as Company K Partners, FuturePlay, and others. The company is led by CEO Soojong Kim, who has a background in engineering and management within the aerospace sector.

Innospace offers a diverse range of launch vehicle solutions, primarily focusing on the Hanbit lineup, which includes the Hanbit-Nano, Hanbit-Micro, and Hanbit-Mini rockets. These products cater to varying payload requirements for deploying small satellites into orbit. Innospace specializes in custom-engineered solutions, providing tailored launch services that meet specific mission parameters using advanced hybrid propulsion technologies, ensuring reliable operations for scientific and commercial missions. The company targets a global customer base, including satellite manufacturers and research institutions, especially in Southeast Asia, Europe, and North America.

Innospace generates revenue through its launch services structured around contracts with satellite operators and research organizations. Their transaction model typically involves fixed-price agreements for satellite launches, covering all services, including pre-launch testing and integration. The company also engages in strategic partnerships for collaborative missions, enhancing its service offerings. Pricing plans for the Hanbit-Nano and other products depend on payload weight and mission requirements, while additional revenue comes from engineering services and testing evaluations for propulsion systems.

In July 2021, Innospace raised KRW 25 billion in Series B funding to secure costs for its test launch system and manufacture additional launch vehicles for future developments. The company plans to expand its product offerings and enhance its launch capabilities, targeting new markets in Southeast Asia and beyond by 2023, aiming to meet the growing demand for small satellite launches.

## Funding rounds

- Series B, Jul 29, 2021, $22M — Shinhan Venture Investment, InterVest, SV Investment, L&S Venture Capital, Kolon Investment, Company K Partners, FuturePlay, Schmidt, Kolon Glotech, Tony Investment
- Series A, Jan 11, 2021, $7.3M — InterVest, Kolon Investment, Company K Partners, FuturePlay, Albatross Investment, JX Partners, Hana Ventures, D.CAMP (inactive), MIRAKLE LAB
- Seed, Oct 1, 2019, $1.3M — Kolon Investment, Schmidt
- Seed, Jun 1, 2019 — FuturePlay, Korea Tech Incubator for Startup

## Investors

- FuturePlay (https://capitalatlas.ai/funds/futureplay) — Seed, Series A, Series B
- Korea Tech Incubator for Startup — Seed
- Kolon Investment (https://capitalatlas.ai/funds/kolon-investment) — Seed, Series A, Series B
- Schmidt (https://capitalatlas.ai/funds/schmidt) — Seed, Series B
- InterVest (https://capitalatlas.ai/funds/intervest) — Series A, Series B
- Company K Partners (https://capitalatlas.ai/funds/company-k-partners) — Series A, Series B
- Albatross Investment (https://capitalatlas.ai/funds/albatross-investment) — Series A
- JX Partners (https://capitalatlas.ai/funds/jx-partners) — Series A
- Hana Ventures — Series A
- D.CAMP (inactive) — Series A
- MIRAKLE LAB — Series A
- Shinhan Venture Investment (https://capitalatlas.ai/funds/shinhan-venture-investment) — Series B
- SV Investment (https://capitalatlas.ai/funds/sv-investment) — Series B
- L&S Venture Capital (https://capitalatlas.ai/funds/l-s-venture-capital) — Series B
- Kolon Glotech — Series B
- Tony Investment (https://capitalatlas.ai/funds/tony-investment) — Series B