Magdrive, a startup with a new type of spacecraft propulsion system, has closed a £1.4 million seed round led by Founders Fund and backed by Luminous Ventures, 7percent Ventures, and Entrepreneur First.
According to the company, Magdrive engine’s electrical thrusters feature ultra-efficient electric system with an unparalleled power-to-mass ratio and use a high-density propellant that burns 100x hotter than a rocket.
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