. 24/7 Space News .
Phantom Space raises $5M in seed funding to for space transportation concept
by Staff Writers
Tucson AZ (SPX) Apr 15, 2021

"We are proud of our contrarian approach to building rockets and other space transportation technology," says Jim Cantrell, CEO and Co-Founder of Phantom Space Corporation.

Phantom Space Corporation, a space transportation technology development and manufacturing company, has announced it has raised $5 million in seed investment funding to make space commerce commonplace and to lower the barriers to space access. The round was led by New York City based Chenel Capital, who specializes in growth equity investments.

Phantom is a startup working to democratize space by mass manufacturing small launch vehicles (rockets), satellites, and space propulsion systems. The company is developing core launch system technologies needed to transform the space transportation industry.

Phantom is filling the unmet need to effectively access space and utilize on-orbit capabilities through modern mass manufacturing production, aiming to become the "Henry Ford of Space". Other competitors in this space are capped at conducting several dozen launches per year where Phantom Space's unique manufacturing methodology and globally distributed launch sites allows for hundreds of launches.

This latest round of funding will go towards expanding Phantom's team of engineers, scientists, technicians and managers passionate about designing space transportation systems based on today's requirements and today's supply chain realities. Phantom's current team consists of 26 space industry and technical experts with deep market knowledge and know-how not often found at a company at this stage of maturity.

The company is ramping up quickly and is currently building its first launch vehicle development unit in preparation for stage level testing late this year. The first launch will be with Phantom's Daytona rocket, which employs the first US produced oxidizer-rich stage combustion LOX/RP engines built by Ursa Major Technologies in Denver, Colorado. Phantom is currently building four launch vehicle development units, putting their current trajectory for their first orbital launch at Q1 2023.

"We are proud of our contrarian approach to building rockets and other space transportation technology," says Jim Cantrell, CEO and Co-Founder of Phantom Space Corporation.

"We want to be the Henry Ford of the space industry with mass production while others in this space are focused on vertically integrating their technology and supply chain. At Phantom, to achieve rapid time to market and enabling mass manufacturing, we are leveraging mature supply chains in addition to our own innovations. This allows us to get to orbit faster than ever thought possible."

Additionally, Phantom recently acquired StratSpace, an Arizona-based company that develops space systems and flight hardware, leads space market forecasting, and represents space industry clients across the world.

StratSpace has hosted 46 successful space missions and satellite programs since their inception and Phantom will be integrating these core technologies as part of its mission to transform the space transportation industry.

Phantom is currently focused on securing more launch sites over the next year. Furthermore, Phantom has confirmed that they are building an imaging satellite for a commercial customer who will be deploying this imagery in support of United States Department of Defense core missions. This is one of many government partnerships on Phantom's radar for the near future in addition to a multitude of commercial projects.

"Phantom Space is among the best-positioned space startups to democratize access to space," says Richard Chenel, Founder and Managing Partner at Chenel Capital.

"Phantom has seen strong demand from both government and commercial partners and we're thrilled with the opportunity to provide the lead in capital for this round that will support their growing pipeline of customers and launch sites" said Chenel.

Related Links
Phantom Space Corporation
Rocket Science News at Space-Travel.Com

Thanks for being there;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Monthly Supporter
$5+ Billed Monthly

paypal only
SpaceDaily Contributor
$5 Billed Once

credit card or paypal

Blue Origin rocket test will monitor capsule access by humans
Orlando FL (UPI) Apr 14, 2021
Jeff Bezos' space company, Blue Origin, plans to launch Wednesday morning from Texas what may be the last test flight for its New Shepard rocket before it carries people later this year. But people will be getting into and out of the capsule atop the 60-foot-high rocket as part of the test. Liftoff is planned for 11:15 a.m. EDT from the company's spaceport near Van Horn, about 120 miles southeast of El Paso. The mission, called NS-15, is "a verification step prior to flying astronauts," the compan ... read more

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Biden proposes 6.3% boost for NASA in budget proposal

Liftoff! Pioneers of space

Astronauts need a fridge

All aboard! Next stop space...

DLR is creating the rocket fuels of the future

Phantom Space raises $5M in seed funding to for space transportation concept

Blue Origin launches what may be final test flight before carrying people

Blue Origin rocket test will monitor capsule access by humans

Work progresses toward Ingenuity's First Flight on Mars

NASA delays Mars helicopter flight again for software update

CO2 mitigation on Earth and magnesium civilization on Mars

NASA delays Mars copter flight for tech check

Chinese rocket for space station mission arrives at launch site

Ningbo to build $3.05b rocket launchpad site

China advances space cooperation in 2020: blue book

China selects astronauts for space station program

India's telecom regulator assessing Starlink system before accepting beta

UK space firm In-Space Missions Limited Announces Major Expansion And Job Creation Plans

China to develop aerospace as strategic emerging industry

US space employment, investments resist pandemic in 2020, continue to climb in 2021

Sotheby's sees $16.8 million in first NFT sale

Google unveils $2bn data hub in Poland

Northrop Grumman and Intelsat make history with docking of 2nd Mission Extension Vehicle

New laser to help clear the sky of space debris

Study warns of 'oxygen false positives' in search for signs of life on other planets

Crustal mineralogy drives microbe diversity beneath Earth's surface

Amounts of organic molecules in planetary systems differ from early on

Long-awaited review reveals journey of water from interstellar clouds to habitable worlds

New research reveals secret to Jupiter's curious aurora activity

NASA's Europa Clipper builds hardware, moves toward assembly

First X-rays from Uranus Discovered

SwRI scientists discover a new auroral feature on Jupiter

The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.