From space junk to interplanetary travel: Magdrive’s €9.9 million funding for spacecraft propulsion …

Oxfordshire-based Magdrive, a startup creating the next-generation of spacecraft propulsion, today announced its €9.9 million Seed funding round led by pan-European VC Redalpine.

Founders Fund, who led Magdrive’s first funding round, and Balerion, Alumni Ventures, Outsized Ventures, 7percent, and Entrepreneur First also contributed to the round.

CEO and Co-founder Mark Stokes said: “Magdrive represents the next generation of spacecraft propulsion, turning humanity’s grand ambitions in space into a reality with mega constellations, asteroid mining, and in-space servicing, assembly, and manufacturing; all the building blocks to make us a space faring civilization.”

Magdrive was founded in 2019 by CEO Mark Stokes, a mechanical…