October Investment Activity
October 5 – Japanese space propulsion start-up Pale Blue Inc. announced that it raised an additional $7.5m as part of its Series B investment round. The company plans to use the new funding to progress research and development activities for the mass production of propulsion systems for small satellites.
October 10 – Proteus Space, Inc., a California-based satellite manufacturing start-up that utilizes artificial intelligence for rapid production of customized ESPA-class satellites, emerged from stealth mode by announcing that it raised $4.2m in a seed funding round led by Moonshots Capital, with participation from Lavrock Ventures, The Veteran Fund, Mana Ventures, AIN Ventures, Capital Factory and Industrious Ventures.
October 18 – Remote sensing company HawkEye 360, Inc. (HawkEye 360) announced that it raised an additional $10m in an extension of its Series D-1 investment round – bringing the total amount of funding raised in the round to $68m – from Lockheed Martin Ventures, the venture arm of Lockheed Martin Corporation, and other investors. The company plans to use the new funding for the development of new capabilities involving artificial intelligence and data fusion technologies. In a related development, HawkEye 360 and Lockheed Martin Ventures announced that they entered into a cooperative agreement for the joint development of remote sensing solutions for government and commercial customers.
Read more related news in Space Business Review October 2023.
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