Muon Space secures $56M Series B Funding

Muon Space secures $56M Series B Funding
by Clarence Oxford
Los Angeles CA (SPX) Aug 06, 2024

Muon Space, a leading provider of space systems, has successfully completed a $56.7 million Series B funding round led by Activate Capital. The round also saw participation from Acme Capital, Costanoa Ventures, Radical Ventures, and Congruent Ventures. This new funding will accelerate the development of Muon's Halo Platform and expand the company's capabilities to serve its growing customer base.

Muon Space has secured over $100 million in customer contracts in 2024 for its Halo LEO satellites, highlighting its rapid growth in the space technology sector. A significant contract includes a deal with SNC to develop and deliver three advanced satellites for SNC's Vindler commercial RF technology. The first Muon satellite block is expected to launch in 2025.

SNC's Vindler constellation is known for its advanced RF collection and analytics. The additional satellites will enhance the ability to collect multiple signals over a wide RF spectrum, increasing downlink volumes and transforming commercial opportunities.

"SNC teamed up with Muon Space for an advanced radio frequency sensing satellite capability and end-to-end mission solution," said Tim Owings, Executive Vice President of SNC's MST business area. "Muon's scalable design, instrument development, and operations support, coupled with our RF technology, diverse data sets, and analytic capabilities, will provide a new level of commercial possibilities starting in 2025."

The collaboration between Muon Space and SNC combines the strengths of a leader in ELINT/tactical sensors with the innovative potential of Muon's modular Halo satellite technology. This partnership aims to redefine commercial RF solutions and deliver exceptional value for various mission applications.

"Having an established industry leader like SNC select Muon Space for this mission really underlines our competitive edge," said Gregory Smirin, President of Muon Space.

"Our end-to-end solution offers a significant advantage, providing SNC with a seamless and integrated approach from design to deployment and operations. This partnership validates our commitment to delivering comprehensive, cutting-edge constellation performance that stands out in an extremely competitive market."

The Series B funding reflects investor confidence in Muon Space's innovative approach and market potential. The company plans to use the funds to scale operations, expand product offerings, and continue pioneering advancements in space-based sensing and analytics. This capital will support Muon's growth and strategic initiatives.

"Muon Space's cutting-edge technology, phenomenal track record of execution, and multi-billion dollar market potential make it a highly compelling investment opportunity," said Raj Atluru, Managing Partner of Activate Capital. "With the industry's best team and technology built around a compelling vision and huge opportunity, we believe Muon Space is positioned to define the next era of space infrastructure."

"Our mission at Muon Space is to harness the power of space to deliver critical insights and data that drive meaningful change on Earth," said Jonny Dyer, CEO of Muon Space.

"This funding and our growing list of top-tier strategic partners, like SNC, position us to accelerate our mission and make space-based intelligence accessible and impactful across a variety of sectors. We are dedicated to pushing the boundaries of what is possible in space to unlock a safer and more resilient world."