Skip to content

Varnum Represents Orbion in $20M Series B Funding Round

June 30, 2021

Orbion Space Technology, Inc., a leading supplier of high-performance Hall-effect propulsion systems for small satellites, recently announced the closing of a Series B funding round during which it raised $20 million. The new funding will be used to complete a factory buildout that will allow Orbion to scale up production of plasma thrusters for small satellites.

Varnum served as legal counsel to Orbion, drafting and negotiating all transaction agreements and related material agreements. Led by Zach Meyer, the Varnum team included John Arendshorst and Chris Hiller. Varnum also provided counsel with respect to employee benefits and other related general corporate matters.

The recent funding round was led by the U.S.-India venture capital firm Inventus Capital Partners, with additional participation including Material Impact, Beringea and Wakestream Ventures.

Varnum has worked with Orbion for the past five years, providing a variety of legal services including a previous $9.2 million Series A capital raise in 2019. Since that time, the Houghton, Michigan-based startup has secured a research partnership with the U.S. Department of Defense and a contract with a leading provider of small satellite solutions.

Sign up to be the first to access our leading legal insights.

The link you have selected will redirect you to a third-party website located on another server. We are offering the link for your convenience. Varnum has no responsibility for any external websites and makes no express or implied warranties about any external websites.

Please be aware that contacting us via e-mail does not create an attorney-client relationship between you and the firm. Do not send confidential information to the firm until you have spoken with one of our attorneys and receive authorization to send such materials.