Irish space technology startup Arralis has raised €50 million in funding from an unnamed Hong Kong-based investor.
The company has developed satellite communications and radar technology that can be used in space. It's equipment has been used by the European Space Agency (ESA), the Ministry of Defence in the UK and Chinese aerospace firms Beijing Bluesky Aviation Technology and Sino TekCo. Arralis has secured two contracts with the ESA to develop communications technology.
The funding will be used by the company to mass produce its high-tech components and to set up a supply chain in Hong Kong. The company also plans to more than double its 20-person staff, mostly in engineering and sales.
Read more: Fora