IENAI SPACE Series A
Series A · Investor room · 2026

Setting [Space] in motion

[Space mobility] hardware and software for small satellites, in support of critical civil, commercial and defense missions.

2in orbitATHENA™ NANO units flying since Sep and Oct 2026
600h+Ground endurance firing since July 2026, still running
$8.3BServiceable propulsion market by 2030
35Engineers across Madrid, Barcelona and Uppsala, plus a US company in Washington DC
01 — Company film

Meet [IENAI SPACE]

Setting space in motion

Plays on YouTube ↗
02 — Series A deck

The [Deck]

13 slides. Use the arrows, your keyboard, or jump to a section.

Series A deck, slide 1 of 13
Intro 01 / 13 Open PDF ↗
03 — Investment thesis

Welcome to the future of [space mobility]

Breakthrough, [not incremental]

Miniaturized, high-performance, safe in-space propulsion built on a patented micro-manufacturing process. Developed in-house by a multidisciplinary engineering team, now flying.

Solving the [biggest blockers]

15% of satellites still launch without propulsion. We remove the reasons: poor miniaturization, hard-to-handle propellants, high integration cost and ops complexity. Propulsion is 15–20% of satellite manufacturing cost today.

Defense [ready]

Electrosprays have a low optical and infrared footprint. That enables agile, low-detectability, resilient small-sat platforms for contested orbital environments. Validated for dual use with US DIU and AFRL, and the Spanish Air and Space Force.

Ready to [scale]

2026: ESA Critical Design Review completed and TRL 8 reached; next, qualify the supply chain and ramp to TRL 9. 2027: kick-start mass production and land the first constellation contracts, aligned with Western strategic autonomy.

04 — Ecosystem

End-to-end in-space mobility, [in 3 steps]

[1] SIMULATE

360™

Mission and space mobility analysis software. High-fidelity flight, attitude and operations propagator for Phase 0 through operations training. Web studio plus Python library.

● Available now · quarterly releases
[2] THRUST

ATHENA™

Electrospray thrusters for small satellites. Ionic-liquid propellant, ions extracted from micro-needles at ~20 km/s. Low power, compact, no pressurized tanks.

● NANO commercial end of 2026
[3] MANEUVER

ORBITAL™

Propulsive-phase planning, optimization and automation, on ground or on board. Builds a digital twin from telemetry and navigation data to automate maneuvering.

● Coming soon
Cutaway render of ATHENA NANO with both emitters firing
ATHENA™ · how it works

Electrospray, [miniaturized]

  1. 1

    Conductive ionic-liquid propellant. Non-pressurized and safe to handle, stored in small tanks next to the emitters.

  2. 2

    Electrostatic field on micro-needles. Two emitter arrays at opposite polarity evaporate ions straight from the propellant. The beam neutralizes itself, so no external neutralizer.

  3. 3

    A ~20 km/s jet of reaction mass produces thrust. High efficiency from a few watts, small enough for a 6U CubeSat.

ATHENA™ family PICOIn development NANO & flatCommercial 2026 MICROKick-off 2026 · dev. 2027
Total impulse · kN·s0.151.5 / 3 – 6 / 1216 – 60
Thrust · mN0.140.5 – 23.5 – 14
Power · W415 – 60100 – 400
Target satellitesCubeSats< 100 kgUp to 500 kg

Ranges as presented in the Series A deck. MICRO values are targets, subject to change during development.

05 — Traction

Hardware flown [to orbit]

Four ATHENA™ NANO in-orbit demonstrations on three satellite platforms. Two are already flying.

#PlatformLauncher · missionDateStatus
01EnduroSat Platform-6ISAR Spectrum 2Sep 2026In orbit
02FOSSA Systems 6USpaceX Falcon 9 · Bandwagon-5Oct 2026In orbit
03ISISpace 6UISAR Spectrum 3Mar 2027Planned
04EnduroSat 6UVEGATBCPlanned
600h+

TRL 8, certified through ESA's Critical Design Review. Semi-continuous ground firing since July 2026: 100+ propellant injections, multiple shutdowns and restarts, autonomous recovery from short-circuits at emitter and PCU level. 360™ is contracted by two European primes, INTA, IACTEC and the Spanish Air and Space Force Academy.

06 — ATHENA™ Test Data Portal

Watch ATHENA™ [fire]

Follow our thrusters as they fire: streamed live from the vacuum chambers in our Madrid lab, and replayed from orbit after every ground-station pass.

Mission 01 · Platform-6 (EnduroSat) · flight playback

ATHENA™ Test Dashboards / Platform-6 (EnduroSat) / Flight test
Portal dashboard replaying ATHENA NANO flight telemetry from Platform-6: thrust, rail voltage, temperatures, power, propellant, ground track and mean orbit

Flight replay, 5 Sep → 15 Oct 2026. Thrust, rail voltage, temperatures through sunlight and eclipse, propellant dispensed and the orbit change it produces.

ATHENA NANO inside a vacuum chamberLive now
Ground test · Madrid

Vacuum chamber

The thruster fires inside our vacuum chamber, recreating space conditions. Emitted current, power and temperature update as it runs, with the chamber camera and event log alongside.

Thruster
ATHENA™ NANO
Facility
IENAI HQ, Leganés
Engineers integrating ATHENA NANO into the Platform-6 satellite in a clean roomPlayback
Mission 01 · In orbit since 5 Sep 2026

Platform-6 (EnduroSat)

The first ATHENA™ NANO in orbit. Replay each ground-station pass to see how the thruster performs in space.

Launch
Isar Spectrum · Flight 2
Thruster
ATHENA™ NANO
FOSSASAT-6U satellite with ATHENA NANO integratedIn orbit
Mission 02 · In orbit since 20 Oct 2026

FOSSASAT-6U (FOSSA Systems)

ATHENA™ NANO on board FOSSA Systems' first 6U satellite. Launched on 20 October 2026; flight data appears here as ground-station passes come in.

Launch
SpaceX Bandwagon-5
Thruster
ATHENA™ NANO
Emitter currentµA · per emitter
Rail voltagekV · ± polarity
Thruster powerW · total
Estimated thrustµN
Buffer & tank temp°C · sunlight / eclipse
Propellant dispensedµL · cumulative
Ground tracklat · lon
Mean orbitkm · Δ semi-major axis

[ Restricted access ]Access keys are issued by IENAI SPACE to partners and investors. Data is shared under NDA.

07 — Market

A [$100B] satellite market by 2030

15–25% of satellite cost is tied to propulsion. Constellations, low penetration of orbital transfer vehicles and debris regulation (FCC, ORBITS Act, ESA Zero Debris) drive demand.

Satellite manufacturing $100Bby 2030 Civil $41B (2024) · Defense $16B (2023)

Commercial and defense satellite manufacturing, growing at more than 7% CAGR.

Total addressable · propulsion $20Bby 2030 $12B in 2024

In-space propulsion across all satellite classes.

Serviceable addressable $8.3Bby 2030 $5B in 2024

Low and very-low power propulsion for satellites from <100 kg up to 1,000 kg.

08 — The round

Use of funds & [milestones]

RoundSeries A
Target closeEnd of 2026
Investor profileSpace · Deep tech · Dual-use
Use of funds
  1. [1]
    Industrial facilities & equipment

    150 m² clean room, assembly and prototyping lab, acceptance test line.

  2. [2]
    Production ramp-up · +200 thrusters/yr

    QA/PA certification, pilot batches, full-scale production.

  3. [3]
    ATHENA™ NANO+ development

    Radiation tolerance for deep-space and high-radiation orbits.

  4. [4]
    ATHENA™ MICRO development

    New 100–200 W system for satellites up to 500 kg.

  5. [5]
    Software, international expansion & M&A

    360™ scale-up, ORBITAL™ development, international expansion and M&A.

Post-round milestones

End of 2027

  • ATHENA™ NANO reaches TRL 9; NANO+ deployed
  • 100 NANO units sold · €2M hardware revenue
  • 25 live 360™ licences · €1.2M software ARR
  • +1 constellation anchor customer signed

2028+ · Series B readiness

  • ATHENA™ MICRO first commercial sales
  • First fully automated in-orbit manoeuvres via ORBITAL™
  • International production centres established
  • Scaling to multi-constellation volume production
09 — Team

The founding [team]

Four PhDs. One mission. A 35-person multidisciplinary engineering team across Madrid, Barcelona and Uppsala.

Dr. Sara Correyero speaking on stageCo-CEO · Board

Dr. Sara Correyero

  • Aerospace Engineer, PhD Electric Propulsion
  • Operations and strategic development
  • Drives government relationships and international expansion
Dr. Daniel Pérez holding a CubeSat on stageCo-CEO · Board

Dr. Daniel Pérez

  • Aerospace Engineer, PhD Electric Propulsion
  • Commercial expansion
  • Technical leadership of software products
Dr. Mick WijnenCTO

Dr. Mick Wijnen

  • Physicist, PhD Electric Propulsion
  • Leads system design, CDR and qualification for ATHENA™ and 360™
Dr. Javier Cruz in the clean room holding a wafer of emittersCSO

Dr. Javier Cruz

  • Microsystems Engineer
  • Chief architect of ATHENA™ electrospray technology
Madrid, ESHQ, electronics lab and clean room
Barcelona, ESManufacturing hub at CNM-IMB
Uppsala, SEManufacturing hub at MyFab
Washington DC, USUS company
10 — Next steps

Join us in setting [space] in motion

Tell us who you are and what you need, and we will get back to you with access.

I would like
Co-CEO & Co-founderDr. Daniel Pérez Grande
daniel.perez@ienai.space
Co-CEO & Co-founderDr. Sara Correyero Plaza
sara.correyero@ienai.space
What happens next
  • [1]We confirm your request and share an NDA if needed.
  • [2]You receive data room access and, if requested, a portal key.
  • [3]We set up a call or a visit to our Madrid HQ and clean room.