Boston, Massachusetts -- Transportation technology company Accion Systems has secured $1.88 million in new equity venture capital funding, according to an SEC regulatory filing.
Accion "is printing propulsion systems for satellites based on proprietary technology developed at MIT."
The company's solutions are focused on small satellites, which have different aspects and cost structure limitations than large satellites.
Investors in the financing were not disclosed, nor was how the company intends to use the funding proceeds.
A total of 15 investors participated in the offering.
Accion is still seeking $1 million in additional equity investment, according to the filing.