Accion Systems has raised $7.5 million. The Series A funding was made possible by Shasta Ventures. Other participants in the round were Founder Collective, RRE Ventures, and Slow Ventures. The company previously raised $2 million from seed funding, as well as $6.5 million from a partnership with the Department of Defense.
Rather than fly drones or launch satellites, Accion Systems developed a space propulsion system that is light enough to include on smaller satellites. When many are used at the same time, they can be scaled to help provide propulsion for bigger spacecrafts as well. The company was founded in 2013 and commercialized a mini electrospray ion engine that was previously developed and tested in a MIT lab.
