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[Funding Alert] Singapore-Based Aliena Raises $5.6 Million in Series A Round Funding

Aliena, a spacetech business based in the city-state, is aiming to become a worldwide player and has raised US$5.6 million in a Series A funding round.

Aliena, a spacetech business based in the city-state, is aiming to become a worldwide player and has raised US$5.6 million in a Series A funding round.

Aliena hopes to enhance testing and increase engine manufacturing with the additional investment. Due to the upgrade’s ability to scale up production of its jet propulsion systems to dozens, the company would also be able to onboard more clients.

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CEO Mark Lim anticipates that this number will rise to the hundreds in the ensuing two to three years. However, the corporation concentrated on research and development before being able to bring its technologies to market. This was Aliena’s primary source of income from the company’s founding until 2023.

There has been a lot of activity lately in the worldwide spacetech industry. According to a Space Capital study published in January of this year, record launch numbers and government-backed initiatives helped startups in the sector raise 31% more capital in the fourth quarter of 2023 than in the third.

Read also – Israel-based Knostic Secures $3.3 Million in Pre-Seed Funding

While much of the emphasis has gone to East Asian firms, Singapore is not far behind with Qosmosys’ US$100 million seed round in October 2023 and Japanese space cleanup business Astroscale anticipating a Tokyo listing soon after a US$76 million investment last year.

Because there is an increased amount of air drag at lower flight levels, propulsion systems for VLEO missions are very specific.

About Aliena

ALIENA is the only owner of revolutionary electric propulsion technology that will drive the development of the small satellite market in VLEO.a well-known space technology company that aims to use its patented electric propulsion engines to enable a fleet of imaging satellites to fly closer to Earth, thus giving terrestrial enterprises access to high-resolution data.

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