Ukrainian startup Promin Aerospace has received their first pre-orders for $6.5M.

The Promin Aerospace team is developing a rocket that should be many times cheaper than its counterparts.

The rocket does not have stages that burn out during flight and require the empty element to separate from the vehicle in order to burn the next stage. The Promin Aerospace rocket burns gradually throughout the flight. This approach saves money.

As the CEO of the startup, Mykhailo Rudominskyi, says he cannot name the exact date of the rocket’s first launch.

In 2021, Promin Aerospace raised $500,000 in a pre-seed round from venture capital fund QPDigital to build the smallest orbital rocket in history.