Slingshot Aerospace Raises $40.85M in Oversubscribed Series A2 Funds


Reading time ( words)

Slingshot Aerospace, Inc., a company building data and analytics products to make space operations safer, announced that it has raised $40.85 million in an oversubscribed Series A2 funding round. The round was led by Sway Ventures and included participation from others, including C16 Ventures, ATX Venture Partners, Lockheed Martin Ventures, Valor Equity Partners, and Draper Associates, the global venture capital firm of prominent Silicon Valley venture capitalist Tim Draper. In addition to $40.85 million in equity funding, Horizon Technology Finance provided a venture loan to accelerate Slingshot’s growth.

“Slingshot Aerospace continually makes strategic moves that demonstrate an unwavering commitment to making space safer for all of society,” said Najib Khouri-Haddad, General Partner, Sway Ventures. “The massive growth in space operations carries a significant risk as well as an opportunity. Slingshot has aggressively and creatively carved a path to build new technologies that solve critical challenges and greatly reduce risks in space. Our investment in Slingshot is an investment in the future of space as we know it.”

Slingshot Aerospace used a portion of the new funds to finance the recently announced acquisitions of Numerica’s Space Domain Awareness division and Seradata, which further differentiate Slingshot’s products as the most robust and authoritative space situational awareness and space traffic coordination solutions available in the market. Renaissance Strategic Advisors acted as a strategic advisor on the acquisitions.

Slingshot’s funds will also be used to:

  • Drive growth across Slingshot’s global commercial, civil, and defense customer base
  • Further build out Slingshot’s Global Sensor Network, which already includes 150 sensors and 30 telescopes across 20 locations around the globe
  • Accelerate the expansion of Slingshot's Digital Space Twin™ software platform and commercialization of company products, including Slingshot Beacon

“Our successful funding round during a global economic downturn is validation that investors understand the urgent need for safe and sustainable spaceflight operations as activity in orbit outpaces current space traffic management constructs,” said Melanie Stricklan, Co-founder and CEO, Slingshot Aerospace. “Our mission is to ensure that our customers overcome those vulnerabilities and optimize their critical operations in orbit. We have an unprecedented opportunity in this next phase of growth as we continue to be a driving force to de-risk operations in the space revolution.”

There are more than 10,000 satellites in orbit today according to Slingshot Aerospace’s space object database, Seradata SpaceTrak, with more than 115,000 potentially in space by 2030. This level of commercialization underscores the need for high quality space surveillance and tracking data and purpose built solutions for making space operations safer.

Share




Suggested Items

A Challenge Facing Aerospace Designers In 2023

01/24/2023 | Lee Ritchey, Speeding Edge
As the aerospace industry has been tasked with fitting increasingly complex electronics in existing airframes the demands on PCB substrates have begun to overtask the existing state of the art in PCB fabrication. Recently, I was called in to troubleshoot some reliability problems with a very dense PCB that had components on both sides and required the use of stacked blind vias and buried vias. The usual name for this kind of design is “build-up fabrication,” requiring many trips through the lamination, drilling, and plating operations at a fabricator.

Durability and Cost Benefits Drive Mil-Aero Demand for OCPP

01/17/2023 | Sam Sadri, QP Technologies
Ceramic packages were, for many years, the option of choice for semiconductor prototype assembly, particularly in military-aerospace applications. They can withstand high temperatures and can be hermetically sealed. However, they can be costly and, while they allow for rapid assembly of first samples, the final product is typically a plastic package, so the ceramic prototype doesn’t offer an accurate representation. This need for a better, more viable alternative to ceramic was one of the catalysts that gave rise to open-cavity plastic packaging (OCPP).

US, Japan Sign Space Collaboration Agreement at NASA Headquarters

01/16/2023 | NASA
During an event hosted by NASA Administrator Bill Nelson and Deputy Administrator Pam Melroy at the agency's Headquarters in Washington Friday, representatives from the United States and Japan gathered to sign an agreement that builds on a long history of collaboration in space exploration between the two nations. Known as the "Framework Agreement Between the Government of Japan and the Government of the United States of America for Cooperation in Space Exploration and Use of Outer Space, Including the Moon and Other Celestial Bodies, For Peaceful Purposes," this pact recognizes a mutual interest in peaceful exploration.



Copyright © 2023 I-Connect007 | IPC Publishing Group Inc. All rights reserved.