Founded in 2018 (originally as Pangea Aerospace), Pangea Propulsion shifted in 2023 from developing a small launch vehicle (Meso) to focusing on propulsion solutions. The company offers a range of small in-space thrusters called Nereus and a larger Cryox engine for upper and kick stages, and is developing the Arcos aerospike engine and the ESA-contracted Kronos propulsion system for future heavy- and super-heavy-lift vehicles. In 2025 it closed a €23 million Series A and received a €7.27 million grant from Spain’s Ministry of Science, Innovation, and Universities. At that time Pangea reported eight active contracts and a pipeline of nearly €120 million in opportunities and said it expected to double revenue, though it has not disclosed whether those targets were met. The company has recently doubled its team and is using new public financing to expand testing and manufacturing capabilities to accelerate product development and improve efficiency.

Total raised

$2M

Funding rounds

1

Latest round

Equity

Latest activity

Apr 2026