. 24/7 Space News .
Slingshot Aerospace raises $25M in Series A-1 Funding Round
by Staff Writers
Los Angeles CA (SPX) Mar 11, 2022

"Data trust and transparency are imperative for humanity to continue operating in space," said Melanie Stricklan, CEO and Co-founder, Slingshot Aerospace.

Slingshot Aerospace, Inc., a company building world-class space simulation and analytics products to accelerate space sustainability, has announced that it has raised $25 million in Series A-1 funds. The new money is in addition to the $9.6 million Series A funds raised in October 2020, bringing the total raised for the A and A-1 rounds to $34.6 million to date.

The oversubscribed A-1 round was co-led by Draper Associates, the global venture capital firm of prominent Silicon Valley venture capitalist Tim Draper, and ATX Venture Partners. Additional participation in the round included Edison Partners, Embedded Ventures, Valor Equity Partners, Lockheed Martin Ventures, and more.

Participation from previous investors also included Revolution's Rise of the Rest Fund, Okapi Venture Capital and others. Since inception in July 2017, Slingshot Aerospace has raised $42 million in funding.

"We invested in Slingshot Aerospace because the company is revolutionizing the space industry and bringing the global space-faring community together in a way that has never been done before," said Tim Draper, Founding Partner, Draper Associates.

"Slingshot Aerospace is charting a new course for humanity by building technologies and awareness to ensure space remains a safe and secure gateway of discovery. We share Slingshot's desire to keep space a core tenet of our global economy for generations to come."

Slingshot Aerospace will use the new funds to accelerate the commercialization of its products and technologies, including Slingshot Beacon, the industry's first space collision avoidance cross-coordination and communications platform. The platform connects commercial, government and civil customers on one platform to better design, manage, and safeguard their satellites and other assets; mitigate risks; and ensure safe and reliable operations for all spaceflight operators. The company will also use the funds to hire 40 new employees over the next 12 months.

"Space situational awareness is ripe for disruption," said Daniel Herscovici, Partner, Edison Partners.

"No common platform exists for satellite operators to communicate and collaborate in real time with actionable information to resolve on-orbit conjunctions and optimize global space awareness. We believe Slingshot has cracked the code and is well positioned to expand Slingshot Beacon and the company's other products to every space operator around the world. The company's offerings will keep the industry flying safer as the number of objects in space increases, while elevating sustainability across the international community for generations ahead."

"Investment within the space industry is booming, with the majority of the funds being funneled into rockets and satellites; however, there is critical infrastructure that is necessary in order for these objects to be successful in space," said Jenna Bryant, CEO, General Partner, and Co-founder, Embedded Ventures.

"At Embedded, we invest in space technologies beyond the launch that meet at the intersection of innovation, national security, and safety. Slingshot Aerospace is providing a vital capability through Slingshot Beacon that will ensure safe space operations for years to come."

There are 115,000 satellites planned to enter space by 2030, which means more potential collision avoidance decisions will need to be made. Slingshot Aerospace is bringing the space domain into the digital environment to create a fully virtualized, dynamic orbital environment for its customers with its space simulation and analytics solutions.

"Data trust and transparency are imperative for humanity to continue operating in space," said Melanie Stricklan, CEO and Co-founder, Slingshot Aerospace.

"The opportunities are endless in space but we must unlock a digital revolution to optimize spaceflight operations and orbital asset management. Real-time coordination is necessary to provide more accessible, timely and accurate risk mitigation across all space faring organizations. Earth's orbits should be considered critical infrastructure as humanity and our global economy depend heavily on it for safety and security. Slingshot is on a mission to accelerate space sustainability to ensure space continues to be the portal of progress and unity that the world needs for generations to come."

Slingshot Aerospace is accelerating space sustainability by accurately virtualizing the space operating environment and layering in global coordination to remove uncertainty, reduce risk, and preserve assets that are vital to our way of life. The company works with organizations such as OneWeb, Spire Global Inc., Orbit Fab, U.S. Space Force, U.S. Air Force, NASA, Boeing, Lockheed Martin, and more.

Related Links
Slingshot Aerospace
The latest information about the Commercial Satellite Industry

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

Fleet Space Technologies teams up with Seven Sisters Consortium
Adelaide, Australia (SPX) Mar 10, 2022
Fleet Space Technologies is standing with some of Australia and the world's leading space and non-space organisations in a bid to further exploration of the Moon, Mars and the Earth. The Seven Sisters is an initiative to discover abundant resources for humanity's exploration of space through the implementation of world-leading surface exploration and construction technologies developed within Australia's rapidly expanding Space sector. The ultimate purpose is to enable humanity's exploration ... 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

Astronauts wrap up spacewalk outside ISS to prep for new solar arrays

NASA insists space station unaffected by Russian war

US comedian Pete Davidson blasting off to space next week

ISS crews prepare for flow of visitors, rotations over next month

Astra launches three satellites in successful mission from Alaska

Astra Space scrubs first launch since rocket failure because of lightning

NASA rolls out its mega Moon rocket

Poland signs with Virgin Orbit for domestic launch services

MAHLI tries again on Sols 3412-3414 for detailed closeup

A View Filled With Ventifacts - Sols 3417-3418

Russian-European Mars mission suspended over Ukraine war

NASA's Angie Jackman works to develop rocket that will bring Mars samples to Earth

Chief designer details China's future lunar missions

China plans more planetary endeavors: scientist

In-orbit construction of China's space station going smoothly

Technology demonstration satellite to be launched soon

OneWeb partners with Axiros for critical customer infrastructure support

New space funding paves the way for pioneering approaches to energy, communication and resources

Slingshot Aerospace raises $25M in Series A-1 Funding Round

Celestia Aerospace closes 100M euro seed round with London-Based Invema Ltd

NASA adds giant new dish to communicate with deep space missions

Beyond Gravity boosts its capacity for satellite dispenser systems in Linkoping and creates 60 new jobs with new production facility

Unlimited 3D printing for space

Spire Global signs deal with NorthStar Earth and Space for a dedicated constellation

Combing the cosmos: New color catalog aids hunt for life on frozen worlds

Roman Telescope could help find other Earths by surveying space dust

New microscopic organisms found in deep sea trench baffle Chile scientists

"Seafloor fertilizer factory" helped breathe life into Earth

Searching for Planet Nine

NASA begins assembly of Europa Clipper

NASA starts building Europa Clipper to investigate icy, ocean moon of Jupiter

New Horizons team puts names to the places on Arrokoth

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.