Slingshot Aerospace, Inc., the company that builds data and analytics products to make space operations safer, today announced it has raised $40.85 million in an oversubscribed Series A2 funding round .
The round was led by Sway Ventures, with other companies 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. also participated. In addition to the $40.85 million equity financing, Horizon Technology Finance (NASDAQ: HRZN) has provided a venture loan to accelerate Slingshot’s growth.
Najib Khouri-Haddad, general partner at Sway Ventures, said: “The significant growth of the space business presents significant risks and opportunities. Investing in Slingshot is an investment in the future of the universe as we know it.”
Slingshot Aerospace used some of the new funding to fund its recently announced acquisition of Numerica’s Space Domain Awareness division and Seradata. This further differentiates Slingshot’s products as the most robust and reliable space situational awareness and space traffic coordination solutions available on the market. Renaissance Strategic Advisors acted as strategic advisor to the acquisition.
Slingshot funds are also used to:
- Drive growth across Slingshot’s global commercial, civilian and defense customer base
- Building more of Slingshot’s global sensor network
- Accelerate expansion of Slingshot’s Digital Space Twin™ software platform and commercialization of its products, including the Slingshot Beacon
“The successful funding round amidst a global economic downturn will help investors meet the urgent need for safe and sustainable spaceflight operations as on-orbit activity outstrips current space traffic management structures. It’s proof that you understand sexuality,” said Melanie Stricklan, co-founder and CEO of Slingshot Aerospace. “Our mission is to help our customers overcome these vulnerabilities and optimize their critical operations in orbit. We continue to be the de-risking force in the space revolution. So this next stage of growth presents an unprecedented opportunity.”
There are currently over 10,000 satellites in orbit, and by 2030 there could be over 115,000, according to Seradata SpaceTrak, Slingshot Aerospace’s space object database. This level of commercialization will lead to higher quality space surveillance and tracking data and safer space operations.