Oraxys in €21m round for Leosphere

Oraxys will later take part in the €10.5m second tranche of the fundraising round, which will also involve another investor, the name of which has not yet been disclosed.

The fresh capital will be used to buy out existing investors Scientipôle Capital and Hedera Finances, as well as to bolster's Leosphere's resources.

Company
Established in 2004 as a spin-off from Onera (Office National d'Etudes et de Recherches Aérospatiales), Leosphere has developed a laser-based atmospheric detection solution dubbed Lidar. The technology is notably used to determine the optimal placement for windfarm installations. The company will also aim to penetrate the airspace security market.

Leosphere is understood to have generated an €18m turnover in 2012.

People
Grégory Fayolle worked on the deal for Oraxys.

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