deltaVision raises €10.2M to scale production of the fluid systems that keep spacecraft running

deltaVision (Munich) has raised €10.2 million in its first VC funding round, co-led by KT Ventures and Valemount Capital, with Futury Capital, industrial family offices, and private investors also participating. No stage label is applied. The announcement was made 21 July 2026.

Founded in 2022 by Denis Kiefel, Alex Plebuch (CEO), and Matthias Günther, deltaVision manufactures cryogenic fluid management systems: the valves, pressure regulators, and electromotive actuators that control propellant flow inside launch vehicles, satellites, lunar landers, and orbital servicing vehicles. The company employs 125 people and operates from a former Siemens manufacturing facility in Munich.

Notably, deltaVision describes itself as already profitable before this round — unusual at this stage for a deep-tech hardware company, and the most credible signal in the announcement that its components are in commercial flight programmes, even though the announcement does not name specific customers or platforms.

The unglamorous infrastructure of the space economy

Spacecraft propulsion is a photogenic subject; the components that make it work reliably are not. Cryogenic fluids — liquid oxygen, liquid hydrogen, liquid methane — must be managed precisely from ground fuelling through staging events, engine restarts, and orbital manoeuvres. A valve failure is not an anomaly a mission absorbs; it is typically a mission failure. The EU-Startups headline calls deltaVision's systems "the cardiovascular system for spacecraft," which captures the dependency precisely: without reliable fluid management, nothing downstream functions.

DeltaVision's expansion to 5,000 units per year of production capacity reflects the supply chain logic of the current launch market. Commercial launch cadence — from Ariane Group, SpaceX, RocketLab, and a growing set of European new-entry providers — generates structurally recurring demand for exactly the kind of precision propulsion components deltaVision produces. A profitable European supplier with demonstrated flight heritage and proprietary manufacturing infrastructure occupies a more defensible position than most space startups achieve at this stage.

KT Ventures and Valemount Capital are the lead investors; their presence signals conviction in both the existing business and the expansion thesis.

In-orbit refueling as the longer arc

The capital is partly directed toward in-orbit refueling infrastructure — the emerging capability to transfer propellant between spacecraft in orbit, enabling extended mission life rather than deorbiting when propellant runs out. This market does not yet exist commercially. The players who will control it are establishing technical and supply chain positions now, and deltaVision's existing expertise in cryogenic fluid control gives it a credible claim on the fluid management layer of that future infrastructure.

The risk is one of focus: pursuing in-orbit refueling development in parallel with scaling the core components business requires careful prioritisation. The €10.2M is unlikely to fund both at full speed. Which of the two use-of-funds threads gets the larger share — manufacturing scale-up or refueling R&D — will signal deltaVision's read of where the more immediate return lies.