HyPrSpace Raises €21 Million Series A to Advance Hybrid Rocket Propulsion and European Launch Capabilities

French space startup HyPrSpace, pioneering hybrid rocket propulsion technology, has secured significant new funding as it advances toward key milestones in its mission to develop affordable and sovereign access to space. The company’s latest financing—a €21 million Series A funding round—was announced in November 2025 and follows earlier government support and seed-stage backing that have helped propel the company’s innovative hybrid engines and launch vehicles into development and testing phases.

The Series A round was led by Red River West and the DeepTech 2030 fund, managed on behalf of the French state by the public investment bank Bpifrance, attracting participation from other strategic investors including SPI, French Tech Seed, d’Expansion, and NACO as part of an oversubscribed round despite broader market headwinds in European venture funding.

Founded in 2019 in Bordeaux, France, by aerospace engineers Alexandre Mangeot, Sylvain Bataillard, and Vincent Rocher, HyPrSpace has focused on developing hybrid rocket engines that combine solid plastic-based fuel with liquid oxygen oxidizer to reduce complexity, cost, and environmental impact compared with traditional liquid propulsion systems. The company’s hybrid architecture eliminates turbopumps and significantly reduces the number of components, improving reliability and simplifying manufacturing and operations.

The capital from the Series A round will directly support the development and flight testing of HyPrSpace’s next launch vehicle, the suborbital Baguette One, which is planned for its first test flight in 2026, as well as continued progress toward the larger orbital launcher, Orbital Baguette One (OB-1). HyPrSpace aims to validate the performance and scalability of its propulsion technology through these full-scale flight campaigns, which are considered critical steps in establishing Europe’s competitive launch capabilities.

Prior to the Series A financing, HyPrSpace also benefited from funding under the France 2030 investment program, securing €35 million in support for its PADA1 project dedicated to the development of Baguette One and related hybrid propulsion systems. That award was delivered through a consortium including CT Engineering and Telespazio France and reflects the French government’s broader efforts to strengthen national aerospace and deeptech industrial capacity.

Earlier in its lifecycle, the company raised seed-stage capital in 2022, including €1.1 million from the French Tech Seed initiative, managed by Bpifrance. That early funding supported initial development of the OB-1 reusable micro-launcher concept and helped expand the company’s research and engineering team as it moved from design toward testing.

HyPrSpace’s hybrid propulsion technology is designed to balance simplicity, robustness, and sustainability. By using recycled high-density polyethylene as fuel and removing complex turbomachinery, the engines aim to reduce both production costs and operational risks while retaining sufficient thrust for suborbital and orbital missions. The company has highlighted the modularity of its approach as a potential advantage for commercial satellite launches as well as defense and institutional applications requiring responsive access to space.

The investor base behind HyPrSpace reflects a combination of public-sector and private backing for deeptech innovation in Europe. Red River West brings experience in early-stage technology investments, while the DeepTech 2030 fund and Bpifrance-backed vehicles align the company with France’s long-term industrial and strategic priorities in aerospace and propulsion technologies.

With the Series A funding secured, HyPrSpace plans to expand its engineering and manufacturing capabilities, intensify engine testing campaigns, and progress toward its first flight demonstrations. As Europe seeks to reinforce its independent access to space, HyPrSpace’s hybrid propulsion strategy positions the company as an emerging player in the evolving commercial launch market.