1 The EIC Accelerator Project
The EIC Accelerator program, part of the European Innovation Council (EIC), serves as a critical funding mechanism designed to support innovative small and medium-sized enterprises (SMEs) and startups within the European Union. This program is particularly focused on deep-tech ventures that possess high growth potential and are poised to disrupt existing markets or create entirely new ones. The EIC Accelerator aims to facilitate the scaling of these businesses by providing substantial financial support and enhancing their visibility in the competitive landscape.Funding Structure
The EIC Accelerator offers a combination of grant funding and equity investment, tailored to the needs of the applicant. The grant component can reach up to €2.5 million and is intended to cover the costs associated with the development of innovative products, processes, or services that are at an advanced stage of readiness. This funding is particularly beneficial for startups seeking to validate their technology or conduct pilot projects without the immediate pressure of returning equity.
In addition to the grant, the EIC Accelerator provides equity funding, which can reach up to €15 million until 2024, and will be capped at €10 million starting in 2025. This equity investment is designed to bridge the funding gap that many innovative companies face when transitioning from research and development to commercial viability. The equity financing not only supports the financial needs of the company but also attracts private sector investment by validating the business model and technological innovation.
Purpose within the European DeepTech Ecosystem
The EIC Accelerator plays an essential role in nurturing the European deep-tech ecosystem, characterized by its emphasis on advanced technologies such as artificial intelligence, biotechnology, and aerospace. By providing substantial funding and resources, the program enhances the capacity of European startups to innovate and compete globally. This is crucial in an era where technological advancements evolve rapidly, and maintaining a competitive edge is vital for economic growth.
The program also emphasizes the importance of collaboration between startups and established industries, thus fostering an environment where innovative ideas can be translated into marketable products. By encouraging partnerships and networking opportunities, the EIC Accelerator helps these companies gain access to valuable expertise, mentorship, and potential customers.
Role in Scaling and Private Sector Funding
The EIC Accelerator serves as a catalyst for scaling companies by not only providing necessary funding but also by offering access to a network of investors, industry experts, and potential partners. This network is essential for startups looking to secure additional funding from private sectors, which often require a proven track record or significant technological validation before committing resources.
By validating the business model and showcasing the potential of innovative solutions, the EIC Accelerator increases the attractiveness of these startups to private investors. Furthermore, the equity investment can serve as a signal of confidence in the company's prospects, encouraging additional investment from venture capitalists and angel investors.
Case Study: DAWN AEROSPACE NEDERLAND B.V. and the DETOX Project
DAWN AEROSPACE NEDERLAND B.V. is a notable winner of the EIC Accelerator, securing funding for their project, DETOX (Detox SatDrive Propulsion). The company specializes in developing cutting-edge propulsion systems for small satellites, a sector that is increasingly important as the demand for satellite technology expands.
Project Overview: DETOX
The DETOX project focuses on developing a novel propulsion system that leverages environmentally friendly propellants. The primary goal of this initiative is to create propulsion solutions that reduce the environmental impact of satellite launches and operations, aligning with global sustainability goals. The propulsion technology being developed is based on a unique combination of non-toxic propellants, which contrasts sharply with traditional systems that often use harmful substances.
Technology Basics and Background
The propulsion technology at the core of the DETOX project incorporates innovative design principles and advanced materials to ensure high efficiency and reliability. The use of non-toxic propellants not only minimizes environmental damage but also simplifies regulatory compliance, which is often a hurdle for aerospace technologies.
DAWN Aerospace’s approach involves the integration of green propulsion systems into existing satellite architectures, enhancing the operational capabilities of satellites while reducing the ecological footprint. This technology is particularly relevant given the increasing scrutiny on the environmental impact of space activities, making DETOX a timely and crucial innovation for the aerospace industry.
The EIC Accelerator funding has provided DAWN Aerospace with the necessary resources to advance their technology, conduct rigorous testing, and ultimately position themselves as leaders in the sustainable space propulsion market. The success of the DETOX project not only benefits the company but also contributes to the broader goals of innovation and environmental responsibility within the European deep-tech ecosystem.
2 The Funding Rounds
Financing Raised and Funding Rounds
Since Dawn Aerospace Nederland B.V. won the EIC Accelerator funding in October 2021, the company has raised significant capital through multiple rounds:
- Seed Round (December 2024): Dawn Aerospace closed a seed round of NZD $3.35 million (approximately USD $2 million). This round was led by Tuhua Ventures and included participation from Erik Swan (co-founder of Splunk), Innovation Quarter, and Aera VC. The funds are earmarked for accelerating development of green satellite propulsion systems and the Mk-II reusable sub-orbital vehicle.
- Major Venture Round ($20 Million, Announced Early 2023): The company secured a large funding round totaling approximately NZD $20 million. Icehouse Ventures was a lead investor, with additional support from GD1 and Movac. This injection valued Dawn Aerospace at around NZD $170 million at that time.
Timing and Amounts
| Date | Round Type | Amount | Lead Investors |
|---|---|---|---|
| Dec 2024 | Seed | NZD $3.35 million | Tuhua Ventures |
| Q1/Q2 2023 | Late VC | NZD $20 million | Icehouse Ventures |
The EIC Accelerator grant itself in October 2021 provided €1.4 million for technology development.
Investor Information
Key investors across these rounds include: - Tuhua Ventures: Led the most recent seed round.
- Erik Swan: Co-founder of Splunk; participated as an angel investor.
- Innovation Quarter & Aera VC: Participated in recent funding activity.
- Icehouse Ventures: Lead investor for the major late-stage venture capital round; committed over $10M alone in that raise.
- GD1 & Movac: Participated in the larger venture-capital-backed raise.
These investors represent a mix of New Zealand-based VCs, international angels, regional innovation agencies, and sector-focused investment funds.
Company Valuations
Following its latest major fundraising event (~Q2 2023), Dawn Aerospace’s reported valuation stood at approximately NZ$170 million (around USD ~$105–110M). Dealroom.co independently estimated its enterprise valuation between USD $52–78M as of December 2022, though this likely predates or excludes some more recent fundraising.
Exit Events: IPOs or Buyouts
As of April 23, 2025:
However, pre-IPO shares are available to accredited investors via private secondary marketplaces like EquityZen—indicating ongoing interest but no completed exit event yet.
Additional Funding Information
Notably: - Prior to its largest VC rounds post-EIC Accelerator win, Dawn generated substantial revenue directly from sales rather than relying solely on venture capital—a rare trait among space-tech startups.
Sources: Dawn closes $3.35m Seed funding Dawn Aerospace company information – Dealroom.co Dawn Aerospace announces $20 million funding - SpaceNed Funding Rounds Explained - Coresignal
3 The Press Releases
Dawn Aerospace Nederland B.V., based in the Netherlands, has made significant advancements since receiving EIC Accelerator funding in October 2021. This company is at the forefront of sustainable space transportation, focusing on both Earth-to-space and in-space propulsion systems.Company Overview
Dawn Aerospace is headquartered in both the Netherlands and New Zealand. It was founded in 2016 by Stefan Powell, his brother James, and others. The company is recognized for its innovative approach to space technology, aiming to provide scalable and sustainable solutions for space transportation.
Recent Developments
- Rocket-Powered Aircraft: Dawn Aerospace has successfully flown its Mk-II Aurora rocket-powered aircraft past the speed of sound, achieving Mach 1.12 and setting a record for the fastest ascent to 20 kilometers. This aircraft is designed for suborbital flights and is part of the company's mission to deliver cost-effective and rapid access to space for research and other applications.
- Green Propulsion Systems: Dawn Aerospace is a leading supplier of green propulsion systems for satellites. These systems use nitrous oxide-based propellants, which offer simplicity, safety, and ease of onsite fueling. This technology is crucial for rideshare launches, which are becoming increasingly popular for small satellites.
- Partnerships and Collaborations:
- Dawn Aerospace has partnered with Blue Canyon Technologies to power lunar data relay satellites with its green propulsion systems.
- It has also partnered with Perigee Aerospace to develop satellite propulsion systems for the Korean space market.
- Additionally, the company has collaborated with SPHERICAL and UARX Space to develop smart propulsion systems for de-orbiting satellites, reducing space debris.
- Research Collaborations: Dawn Aerospace is collaborating with top US universities (Arizona State University, California Polytechnic State University, and Johns Hopkins Applied Physics Lab) for suborbital research flights using its Mk-II Aurora aircraft.
Technology and Mission
Dawn Aerospace's mission is to revolutionize space transportation by making it more accessible, sustainable, and efficient. The company aims to achieve this through its advanced propulsion systems and reusable aircraft technology. The Mk-II Aurora spaceplane is a key part of this mission, designed for high-cadence suborbital flights, which will support microgravity research and atmospheric studies.
Awards and Recognition
Dawn Aerospace ranked fifth in Deloitte’s Fast50 2024 awards, reflecting its significant growth in the space industry. The company continues to solidify its position as a leader in sustainable space technologies.
Social Media and Press Releases
Press releases and updates from Dawn Aerospace can be found on their official website, which includes news on partnerships, technology advancements, and notable achievements. The company regularly publishes updates on its progress, partnerships, and mission milestones.
Sources
- Dawn Aerospace
- Latest News - Dawn Aerospace
- Successful Rocket-Powered Flight - CEO Statement
- Nitrous-Based Propulsion: The Ideal Choice for Rideshare Launches
- Dawn Aerospace Secures Flight Collaboration with Top US Universities for Suborbital Research
- Dawn partners with SPHERICAL and UARX Space on key technologies for smart propulsion systems
- Rocket plane blasts through sound barrier on route to hypersonic flight
- Dawn Aerospace Partners with Perigee Aerospace to Jointly Develop Propulsion Systems for the Korean Space Market
4 The Technology Advancements
Current Capabilities of Dawn Aerospace Nederland B.V.
Dawn Aerospace Nederland B.V., based in the Netherlands, is a leading provider of chemical propulsion systems for satellites. The company specializes in delivering high-performance, cost-effective solutions using nitrous oxide-based propulsion systems. Their products include the CubeDrive and SatDrive technologies, which offer high thrust at a fraction of the cost and lead time of conventional systems.
Advancements Since Receiving EIC Accelerator Funding
Since receiving the EIC Accelerator funding in October 2021, Dawn Aerospace has made significant advancements:
- Widespread Adoption: Dawn's propulsion systems have been widely adopted, with thrusters onboard 11 of the last 12 SpaceX Transporter missions. Notably, 28 Dawn thrusters were launched on Transporter-12 alone.
- Lunar and Deep-Space Missions: The company is working with customers on lunar missions and deep-space launches, such as AstroForge's launch scheduled for Q1 2025.
- Growth and Recognition: Dawn Aerospace experienced over 500% growth in SatDrive shipments from 2023 to 2024 and ranked fifth in Deloitte's Fast50 2024 awards.
Improvements in Technology and New Features
Dawn Aerospace has continuously improved its technology by developing more efficient and scalable propulsion systems. Their focus on nitrous oxide-based propulsion allows for safe, accessible propellants with virtually no lead time, simplifying logistics for customers. The company is also expanding its capabilities with the development of reusable launch vehicles, such as the Mk-II Aurora spaceplane, which combines rocket performance with aircraft reusability.
Demonstrations and Market Presence
Dawn Aerospace has demonstrated its technology through various missions and collaborations:
- Mk-II Aurora Spaceplane: This suborbital aircraft has completed over 58 flights, showcasing its potential for high-cadence suborbital research. It is planned to be used for climate and scientific payloads, with upcoming flights scheduled with top US universities.
- Customer Engagements: Dawn Aerospace has secured partnerships with major satellite operators like Lynk, providing propulsion systems for their satellite constellations.
Patents, Scientific Studies, and Clinical Trials
There is no specific information available on new patents, scientific studies, or clinical trials published by Dawn Aerospace Nederland B.V. since receiving the EIC Accelerator funding. However, the company's technological advancements and market presence are evident through its successful missions and partnerships.
Sources
- Dawn Mk-II Aurora - Rocket-Powered Aircraft
- Dawn Aerospace
- Dawn Aerospace Partners with Perigee Aerospace
- News from Dawn
- PDF: DAWN AEROSPACE NEDERLAND B.V.
- About — Dawn Aerospace
- Dawn Aerospace Secures Flight Collaboration with Top US Universities
- Lynk Selects Dawn Aerospace Propulsion
- Dawn Aerospace Announces $20 Million Funding
5 The Partnerships and Customers
Dawn Aerospace Nederland B.V.: Partnerships and Advancements Since EIC Accelerator Funding
Dawn Aerospace Nederland B.V., based in the Netherlands, received the EIC Accelerator funding in October 2021. Since then, the company has made significant strides in partnerships, customer acquisitions, and technological advancements.
Partnerships and Customers
Dawn Aerospace has partnered with several entities to enhance its capabilities:
- Perigee Aerospace: In October 2024, Dawn Aerospace announced a partnership with Perigee Aerospace to develop propulsion systems for the Korean space market. This collaboration focuses on launching satellites into a 500 km Sun-Synchronous Orbit using Perigee's Blue Whale 1 launch vehicle and engaging in joint marketing activities worldwide.
- Reditus Space: In March 2025, Dawn Aerospace partnered with Reditus Space to provide satellite propulsion for on-orbit manufacturing applications. Reditus Space is developing reusable satellites for zero-gravity manufacturing, and this partnership explores reusability in propulsion systems.
- SPHERICAL and UARX Space: Dawn Aerospace has collaborated with SPHERICAL and UARX Space to develop smart propulsion systems for de-orbiting satellites. This partnership aims to mitigate space debris by developing technologies for sustainable space access.
New Partners and Customers
Recent new partners include Perigee Aerospace and Reditus Space. Lynk is also a notable customer that has selected Dawn Aerospace for its satellite propulsion needs, enhancing deployment, life extension, collision avoidance, and de-orbit capabilities.
Nature of New Relationships and Purpose
These partnerships are designed to enhance Dawn Aerospace's technological capabilities, particularly in green propulsion, and to expand its global presence. The collaboration with Perigee Aerospace marks Dawn's entry into the Korean market, while the partnership with Reditus Space explores novel applications in on-orbit manufacturing. The collaboration with SPHERICAL and UARX Space focuses on sustainable space technologies to reduce debris.
Market Positioning and Technology Advancements
These relationships will position Dawn Aerospace as a leader in sustainable space technologies and propulsion systems. The partnerships are expected to drive technology advancements by leveraging diverse expertise, such as Perigee's launch capabilities and Reditus Space's manufacturing innovations. Additionally, Dawn Aerospace's focus on green propulsion and reusability aligns with the growing demand for sustainable space operations, enabling the company to scale its offerings across multiple markets.
Scaling
The funding and partnerships will support Dawn Aerospace in scaling its operations by expanding its propulsion system offerings and developing new technologies like the Mk-III orbital spaceplane. The company's ability to deliver scalable and sustainable solutions will be crucial in meeting the increasing demand for efficient space transportation services.
Sources: - Dawn Aerospace Partners with Perigee Aerospace
- Dawn Aerospace Website
- DAWN Aerospace Nederland BV - NIDV
- Dawn Aerospace to Provide Reditus Space Satellite Propulsion
- Dawn partners with SPHERICAL and UARX Space
- Dawn Aerospace to provide Reditus Space satellite propulsion
- NSO awards €500k SBIR Phase Two to Dawn Aerospace
- Dawn Aerospace announces $20 million funding
- Lynk selects Dawn Aerospace propulsion
6 The Hiring and Company Growth
Dawn Aerospace Nederland B.V. Team Growth and Hiring
Dawn Aerospace, particularly its Netherlands-based entity Dawn Aerospace Nederland B.V., has experienced significant growth and developments since receiving the EIC Accelerator funding in October 2021. Here is an overview of the company's current status and future prospects:
Current Headcount and Team Size
- Headcount: Dawn Aerospace currently has over 130 employees across its locations, with a 50/50 split between the Netherlands and New Zealand.
- Team Size: The team is distributed across three main locations: the Netherlands, New Zealand, and the United States.
Hiring and Team Growth
- Growth: Since its founding in 2017, Dawn Aerospace has grown significantly, increasing its headcount from 24 to over 130 employees. This rapid growth reflects the company's expanding operations and success in the aerospace industry.
- Hiring Status: While specific current hiring opportunities are not detailed, the company's growth trajectory suggests ongoing recruitment to support its mission and projects.
Key Positions and Recent Hirings
Impact of New Team Members
Management and Founding Team Changes
Future Prospects
Sources: - About — Dawn Aerospace
- Dawn Mk-II Aurora - Rocket-Powered Aircraft
- Dawn Aerospace - Wikipedia
- Successful Rocket-Powered Flight - CEO Statement
- DAWN AEROSPACE NEDERLAND B.V.
- Dawn wins big at the 2023 NZ Hi-Tech Awards
7 The Media Features and Publications
Dawn Aerospace Nederland B.V., a Dutch branch of Dawn Aerospace, has received notable media coverage, participated in numerous events, and engaged in various public communications since winning the EIC Accelerator funding on October 6, 2021.Media Features and Publications
Dawn Aerospace is frequently featured in aerospace and technology media for its pioneering work on sustainable, reusable space transportation. Key highlights include:
- Dawn Aerospace’s Mk-II Aurora rocket-powered aircraft made history by breaking the sound barrier (Mach 1.1) on November 12, 2024. This flight set records as one of the fastest privately developed supersonic aircraft globally and marked the first civilian supersonic flight since Concorde. The event was covered extensively by ASD News highlighting the company's technological milestones and future ambitions toward hypersonic travel and rapid space access.
- The company has been recognized for developing green propulsion systems powering lunar data relay satellites in partnership with Blue Canyon Technologies aimed at a mission planned for 2026.
- Dawn Aerospace also announced contracts supplying propulsion tech to Japanese lunar mission customer Cislunar Technologies.
Podcasts and Interviews
The leadership team of Dawn Aerospace has actively participated in podcasts and interviews discussing their technology vision, achievements, and industry insights:
- Stefan Powell (Co-founder & CEO) appeared on multiple podcasts such as Radio New Zealand’s "Nine to Noon," Main Engine Cut Off Podcast talking about rocket-powered flight plans (April 2023), The Downlink Podcast (January 2023), Ex Terra Podcast discussing spaceplanes and green propellant (November 2022), Bloomberg Business Week interview with Ashlee Vance (September 2020), SpaceBase Podcast episodes covering topics from entering the space industry to affordable aerospace innovation between April 2020 - April 2022.
- Other appearances include NZ Tech Podcast (May 2021), British Interplanetary Society interview with Jeroen Wink (October 2020), We Love Start Ups podcast featuring James Powell discussing startup journey (August 2023).
- A detailed interview titled “Mach 1, Dawn Rises” features Stefan Powell explaining their breakthrough supersonic flight achievement with Mk-II Aurora along with future aspirations for scalable reusable space transport.
Conference Participation & Event Involvement
Although specific conferences or fairs are not explicitly listed in the search results related to "Dawn Aerospace Nederland B.V.", their active engagement includes:
- Signing ESA's Zero Debris Charter reflecting participation or alignment with European Space Agency initiatives focused on sustainable space operations.
- Collaboration agreements for upcoming flights involving research payloads from Arizona State University, California Polytechnic State University, Johns Hopkins Applied Physics Laboratory scheduled during April-June of 2025 at Tāwhaki National Aerospace Centre near Christchurch indicate ongoing involvement in research events supporting academic institutions.
Summary
Dawn Aerospace Nederland B.V., aligned closely with its parent entity based primarily out of New Zealand but serving global markets including Europe through its Netherlands office, is prominently featured across multiple media outlets focusing on aerospace innovation. It engages actively through interviews/podcasts led by senior executives sharing insights into cutting-edge technologies such as eco-friendly satellite propulsion systems and hypersonic-capable suborbital vehicles like the Mk-II Aurora.
The company is involved indirectly or directly via partnerships or commitments such as ESA’s Zero Debris Charter demonstrating environmental responsibility within aerospace activities. Upcoming collaborative research flights highlight continuing operational presence at international aerospace events supporting university payload testing programs.
These activities reflect a dynamic profile post-EIC Accelerator winning submission dated October/November of year=2021 that continues demonstrating growth via media attention combined with hands-on technological demonstrations across global platforms.
Sources
- Latest News - Dawn Aerospace
- Mk-II Aurora Supersonic Flight Record - ASD News
- Podcasts & Interviews - Dawn Aerospace
- Flight Collaboration Announcement - SatNews
- Mach One Flight Interview YouTube – Pathfinder podcast
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