Argo Navis Aerospace poised to propel rocket engines into US, UK, Europe with latest $1 million cap raise.
AUCKLAND. 27th February 2023 — Argo Navis, the aerospace company about to deliver custom upper stage rocket engines to launch providers, announced today the initial close of their convertible note round. The oversubscribed NZ$1.075 million round was led by WNT Ventures with participation from Alt Ventures and the wider WNT Investor Group.
Argo Navis has developed a next generation rocket propulsion system, which enables the rapid development and launching of vehicles. Their engines are highly scalable, reliable, and efficient.
“It was a straight-forward decision by our investment committee to invest into Argo Navis at the beginning,” said Carl Jones, Managing Partner at WNT Ventures. “Malcolm is an innovator and problem solver, he has a distinguished career as a rocket engineer having previously been key to developing technology for a successful well-known rocket launch provider operating out of Aotearoa. It was the natural next step for him to found his own company with this new innovation.”
WNT Ventures partnered with the company in 2020 and provided NZ$1 million of capital in a pre-seed round.
Powering Launch Providers
Argo Navis CEO and founder, Dr Malcolm Snowdon has recently returned from meeting prospective customers in person in the US, Canada, UK, and Europe.
“Launch providers are very interested in the Argo Navis propulsion system, but they need to see it to believe it,” said Dr. Malcolm Snowdon. “Our first sub-orbital demonstration flight has got the green light which means we will be proving out the technology in flight and will continue to showcase the propulsion system in operation through the launch programme.”
The Argo Navis 5kN engine completed ground testing in early 2022, and a successful 4 second in-flight burn on the K-200 test vehicle occurred earlier this month.
To find out more about this launch and future launches follow the Argo Navis on Linkedin.
Early Investment Opportunity
The investment opportunity into Argo Navis Aerospace is still open for a short time to qualified investors. Reach out to WNT Ventures for more information.
About Argo Navis
Argo Navis Aerospace is a commercial supplier of upper-stage rocket engines. Their propulsion system is designed to overcome schedule challenges as well as cost, performance, and reliability issues currently experienced by launch providers. Get in contact with the company for tailor made cutting-edge technology built to your mission specifications to find out more. www.argonavis.aero