Magdrive, the UK-based New Space propulsion startup, has secured $10.5 million in new funding to accelerate its manufacturing capabilities, continue R&D efforts, and establish a US presence with a new office in Los Angeles. This latest investment builds upon their previous $1.8 million seed round led by Founders Fund in 2020 and approximately $10 million in non-dilutive grants, positioning the company to transition from development to commercial production.
Founded in 2019 by CEO Mark Stokes and CTO Thomas Clayson, Magdrive has developed an innovative Electric Propulsion (EP) system that addresses a fundamental challenge in spacecraft design. Traditional propulsion options have forced engineers into difficult trade-offs: chemical systems offer high thrust but low efficiency, while conventional electric propulsion provides excellent efficiency but minimal thrust.
Magdrive has developed an EP system that uses solid metal propellant to generate high-energy plasma, with a magnitude improvement in thrust and a magnitude reduction in mass while achieivng the same high specific impulse as a chemical system. This technological advancement opens new possibilities for satellite operators who can now employ electric propulsion for mission profiles previously requiring heavier, more expensive chemical thrusters. Magdrive is scheduled to fly its first in-space demonstration on a D-Orbit ION mission in June, where it will test the capabilities of its Rogue thrusters.
The company’s approach offers remarkable scalability across its three product versions: the Rogue; its slightly more powerful sibling, Warlock (both weighing 2.5kg); and the upcoming Super Magdrive, a much larger and more powerful system approximately the size of a washing machine. These systems can be deployed in grids to combine thrust or simply built at larger form factors.
The startup sees advanced propulsion as a kind of infrastructure that will enable the space industryโs continued growth in the coming years. Rogue and Warlock are designed to be reusable, using metals like aluminum and copper which can be found in space, which on a longer time horizon could be a differentiator.
Magdrive’s success story exemplifies how European New Space startups can secure significant funding by solving critical challenges in the growing space economy. Their pioneering work in metal-propellant systems aligns perfectly with future space exploration goals emphasizing In-Situ Resource Utilization (ISRU). As missions venture further into the solar system, the ability to replenish using metals mined from asteroids or planets could dramatically transform sustainable space exploration and manufacturing.
Magdrive Secures $10.5M to Pioneer New Spacecraft Propulsion and Expand to US Market
