Accion Systems: Raises $42M in Series C Funding

Accion Systems Raises $42M in Series C Funding

• Accion Systems, a Boston, MA-based manufacturer of advanced ion electrospray in-space propulsion systems, raised $42m in Series C funding
• The round, which brought AccionSystems valuation to $83.5m, was led by an affiliate of Tracker Capital Management
• The company intends to use the funds to accelerate the development of its propulsion system and scale up its manufacturing to meet the demand for in-space propulsion
• The company develops in-space propulsion technologies optimized for scalability, performance, and efficiency
• Its flagship product, TILE, uses proprietary electrospray thrusters to bring electric propulsion to satellites of all sizes
• The company will be launching four TILE systems in 2021 and two more in early 2022