Latvian Deep Space Energy raises €350K
Space startup Deep Space Energy has raised €350K in pre-seed funding from Latvia's Outlast Fund and Lithuanian space startup NanoAvionics.
Deep Space Energy is a Latvian startup that is developing sustainable energy supply technology for space based on scalable radioisotope systems. The company's goal is to produce kilowatt-hours of electricity and supply it to space agencies and private companies that want to use lunar minerals in the long term. Deep Space Energy was founded in 2022 in Latvia. Its founder is Mihails Ščepanskis.
Together with previously secured grants and government funding, Deep Space Energy has raised a total of €930K. These funds will be used to further develop the technology and establish a reliable supply chain for raw materials and components for generator production.
Outlast Fund is a venture company focused on early stage startups in the Nordic and Baltic regions. Outlast Fund focuses on investments in B2B software-based startups at pre-seed and seed stages. The fund also invests in first-time founders who possess unique and specific insights within their chosen verticals. The Outlast Fund was announced in 2024. Founders: Egita Polanska, Marija Ručevska, Kristaps Prusis and Mikaela Pedersen.
NanoAvionics is a Lithuanian manufacturer of small satellite platforms and mission integrator. The company was founded in 2014 as a branch of Vilnius University.
