HyPrSpace Secures €21M Series A Funding, Clearing Path to Launch
French aerospace startup HyPrSpace announced an oversubscribe €21 million Series A round this week to advance the development of its hybrid rocket engines and Baguette One suborbital launch vehicle, with its inaugural launch scheduled for late 2026.
The funding round was led by Red River West and DeepTech Plan, a France 2030 initiative managed by public investment bank Bpifrance, alongside participation from Sociétés de Projets Industriels (Bpifrance), OC French Tech Seed (Bpifrance), Expansion, Nouvelle-Aquitaine’s investment fund (NACO), and Audacia.
This latest round brings HyPrSpace’s total funding to over €57 million, inclusive of a €1.1 million seed round in 2022 and a €35 million investment in 2023 from the France 2030 initiative, during which HyPrSpace led a consortium featuring Telespazio and CT Ingénierie. HyPrSpace has outlined its long-term objectives, which include further capital raising, construction of a high-output manufacturing facility, and aiming for an orbital launch.
HyPrSpace, founded in 2019, is developing a hybrid propulsion system with solid HDPE fuel and cryogenic liquid oxygen. The system will debut on the single-stage suborbital Baguette One flight in 2026 from a French Defense test site, followed by an orbital test using the larger, two-stage, eight-engine OB-1 rocket. Both vehicles employ identical avionics and ground equipment during launch operations. According to Chief Strategy Officer Sylvain Bataillard, this unified launch architecture will enable rapid development and lower production costs.
Bataillard stated, “Our proposition is to deliver a launch service that is more competitive than other launcher providers. With standardized avionics, ground equipment, and engine design, we can streamline the process for design, production, and deployment.”
Regarding future financing, Bataillard indicated that HyPrSpace plans to pursue a Series B round of approximately €50 million following the Baguette One launch, which would support the establishment of a dedicated production facility and facilitate the company’s orbital launch ambitions. The proposed production facility aims to manufacture up to 120 rocket engines annually, initially intended to power eight Orbital Baguette rockets per year. However, the company is considering realigning its strategy due to growing demand from commercial customers and French defense agencies for additional suborbital vehicles supporting microgravity research and hypersonic testing. Bataillard noted, “[The factory] can produce either suborbital or orbital launchers, depending on the market. So, we can really choose, and serve both markets at the same time.”