French launch startup HyPrSpace has raised €21 million in a Series A round to accelerate development of its Baguette One suborbital rocket, which is targeting a first flight in late 2026. The financing increases the company’s total backing to more than €57 million, including earlier funding under the France 2030 initiative.
The latest round was led by Red River West and DeepTech Plan, a France 2030 programme managed by public investment bank Bpifrance. Additional contributions came from Sociétés de Projets Industriels, OC French Tech Seed, Expansion, Nouvelle-Aquitaine’s investment fund NACO, and Audacia. The company previously secured €1.1 million in seed funding in 2022 and €35 million in 2023 through a consortium involving Telespazio and CT Ingénierie.
HyPrSpace aims to use the fresh capital to support development of its single-stage Baguette One launcher as well as long-term plans that include raising further funding, constructing a high-output manufacturing site, and pursuing a first orbital launch by the end of 2027. The company uses high-density polyethylene fuel and liquid oxygen across its suborbital and orbital vehicles, relying on shared avionics and ground systems to streamline operations.
HyPrSpace Chief Strategy Officer Sylvain Bataillard said the company’s unified architecture is intended to simplify production and lower costs. “My pitch is that I will be able to offer a launch service that is more competitive compared to other launcher companies,” he told Payload. “The avionics is the same, the ground equipment is the same, the engine is the same… so it’s easier to design, to produce and to use.”
Bataillard said the company expects to raise about €50 million in a Series B round after the Baguette One debut to fund its planned production facility and orbital ambitions. The site is designed to produce 120 rocket engines annually, originally intended to support eight Orbital Baguette missions per year. HyPrSpace may adjust its strategy, however, due to increased interest from both commercial customers and French defense agencies seeking suborbital vehicles for microgravity and hypersonic research.
“[The factory] can produce either suborbital or orbital launchers, depending on the market,” Bataillard said. “So, we can really choose, and serve both markets at the same time.”
