FlexcelSpace Raises 25 Billion Won in Series A Funding, Targets ISS Space Trial

According to financial sector sources on July 13, FlexcelSpace, a South Korean next-generation space solar cell startup, completed Series A funding of 25 billion won (approximately $20 million). The funding round included major domestic institutional investors such as Mirae Asset Venture Investment and Mirae Asset Capital, alongside IBK Corporate Bank, NH Venture Investment, and others. Including previous funding rounds, FlexcelSpace has raised approximately 30 billion won since its founding in September 2024.

The startup, which spun off from Hanwha Systems in 2024, plans to conduct its first space demonstration aboard the Nuri rocket's fourth launch in November. FlexcelSpace will then pursue International Space Station testing next year to validate product reliability in actual space environments. The company develops perovskite and CIGS-based solar cells with improved efficiency and reduced weight, featuring a rollable structure deployable in orbit.