Total amount raised
$63 Million
Latest funding date
11/01/2024
Location
Starfish Space has successfully raised funding over 11 rounds, with the latest being a Series A round. The company is backed by 27 investors, including NFX, Shield Capital, and Alumni Ventures.
Starfish Space is developing the Otter, an autonomous satellite servicing vehicle designed to be smaller and more affordable than existing alternatives. Keep reading to explore the intricacies of Starfish Space's fundraising journey and the investors backing this innovative platform.
What Is Starfish Space?
Starfish Space, based in Tukwila, Washington, is a private company operating in the aerospace, manufacturing, space travel, and transportation industries. The company has an employee count of 51-100.
Starfish Space is dedicated to developing autonomous space vehicles for in-orbit satellite servicing missions. Their flagship product, Otter, is designed to be smaller and more cost-effective than existing alternatives, aiming to perform tasks such as satellite life extension and disposal.
How Much Funding Has Starfish Space Raised?
- Pre-Seed Round
- Amount Raised: USD 500,000
- Date: October 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial capital to develop their satellite servicing technology.
- Seed Round
- Amount Raised: USD 7,000,000
- Date: August 2021
- Lead Investors: MaC Venture Capital, NFX
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and test their Otter spacecraft.
- Seed Round
- Amount Raised: USD 7,500,000
- Date: March 2023
- Lead Investors: Spacecadet Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and advance technology development.
- Grant
- Amount Raised: USD 3,000,000
- Date: March 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support specific project milestones and research.
- Series A Round
- Amount Raised: USD 14,000,000
- Date: March 2023
- Lead Investors: Munich Re Ventures, Toyota Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and test their Otter spacecraft, including the first demonstration mission.
- Grant
- Amount Raised: USD 150,000
- Date: June 2023
- Lead Investors: NASA
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support specific project milestones and research.
- Grant
- Amount Raised: USD 1,800,000
- Date: August 2023
- Lead Investors: AFWERX
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support specific project milestones and research.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: December 2023
- Lead Investors: Alumni Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and advance technology development.
- Series A Round
- Amount Raised: USD 29,000,000
- Date: November 2024
- Lead Investors: Alumni Ventures, Shield Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch three full-size satellite servicing and inspection spacecraft by 2026.
Total Amount Raised: USD 63,950,000. Current Valuation: Not publicly disclosed.
Key Investors
- Alumni Ventures
- Details: Alumni Ventures is a venture capital firm that invests in high-growth startups. They have a broad portfolio across various industries.
- Investment Focus Areas: High-growth startups, technology, healthcare.
- Notable Investments: Not publicly disclosed.
- Shield Capital
- Details: Shield Capital is a venture capital firm focused on investing in companies that enhance national security. They lead the $29 million Series A funding round for Starfish Space.
- Investment Focus Areas: National security, defense technology, cybersecurity.
- Notable Investments: Not publicly disclosed.
- Munich Re Ventures
- Details: Munich Re Ventures is the venture capital arm of Munich Re, investing in early to growth-stage companies. They participated in multiple funding rounds for Starfish Space.
- Investment Focus Areas: Insurtech, climate tech, cybersecurity.
- Notable Investments: Litmus, Fourth Power.
- Toyota Ventures
- Details: Toyota Ventures is the venture capital arm of Toyota, investing in innovative startups. They focus on mobility and robotics sectors.
- Investment Focus Areas: Mobility, robotics, artificial intelligence.
- Notable Investments: Not publicly disclosed.
- MaC Venture Capital
- Details: MaC Venture Capital is a venture capital firm that invests in technology companies. They were a lead investor in the Seed round for Starfish Space.
- Investment Focus Areas: Technology, media, consumer products.
- Notable Investments: Not publicly disclosed.
What's Next for Starfish Space?
Starfish Space is poised to capitalize on the growing demand for satellite servicing and space sustainability. With plans to launch three full-size satellite servicing and inspection spacecraft by 2026, the company aims to extend the operational life of satellites and manage space debris. This market is expanding rapidly, driven by the increasing reliance on satellite technology for communication, navigation, and defense.
As Starfish Space completes the development of its Otter servicing vehicles and successfully executes missions for high-profile clients like NASA and the U.S. Space Force, it is likely to attract further investment. The company has already secured significant contracts, indicating strong financial opportunities and investor confidence. Future fundraising rounds could support the expansion of their fleet and technological advancements.
However, the journey is not without challenges. Technical and operational risks, regulatory concerns, and competition from other companies in the satellite servicing sector are potential hurdles. Navigating these complexities will be crucial for Starfish Space as it strives to lead in the space sustainability market.
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