[TechUkraine news] Ukrainian Promin Aerospace raised $500 000

Ukrainian SpaceTech startup Promin Aerospace raised $500 000 from the VC fund QPDigital.

According to the specifications from the press release, the rocket’s weight ranges from 220 lb to 1,100 lb. The company plans to create “the smallest orbital rocket in the history of humankind.” Now, this title is held by the Japanese rocket SS-520-5 with a weight of 5,730 lb capable of launching up to 8.8 lb.

QPDigital: “The costs of suborbital and orbital launch would not exceed $200,000.”

This is more than ten times cheaper than the launch of the Astra rocket: the American project that plans to deliver up to 330 lb payload for $2.5 million.

Misha Rudominski, cofounder and CEO at Promin Aerospace: “Currently, work on Promin Aerospace is at the stage of engine testing.”

via AIN.UA