US-based space services provider Spaceflight Industries secured $150m in funding from investors including diversified conglomerate Mitsui and corporate-backed partnership Space Alliance.
The round also featured undisclosed existing backers and increased the company’s overall funding to more than $200m. Space Alliance was formed by satellite system producer Thales Alenia Space and satellite operator Telespazio.
Founded in 1999, Spaceflight acquires capacity on commercial space launches that can then be passed on to its customers, assisting them throughout the process and helping to manage planning, licensing, transport to the site and monitoring of the launch.
The company also offers a range of additional services, such as insurance, analysis of mission feasibility and communication networks.
The funding will be used to build and launch satellites on behalf of Spaceflight’s geospatial intelligence subsidiary, BlackSky, which aims to build a 60-strong constellation of satellites.
BlackSky plans to launch its first four in the next year, and the money is expected to fund another 20, which will be manufactured through a joint venture between Spaceflight and Thales Alenia called LeoStella.
BlackSky has also formed a partnership agreement with Telespazio that will involve them supplying each other’s services and products, and developing and marketing new offerings.
Jason Andrews, Spaceflight’s chairman and CEO, said: “This agreement with two leading players in the European space industry validates the BlackSky business model and reduces capital and execution risk for our high-revisit rate earth observation constellation.
“The LeoStella joint venture with Thales Alenia Space represents a game changer for small and microsatellite production in the United States. Further, the partnership with Telespazio, and significant involvement of Mitsui, accelerates our go-to-market strategy and creates win-win synergies for all parties.”
Spaceflight initially raised $7.5m from investors including electronics producer Apogee and Chugach Alaska Corporation, both of which returned for a $20m series B round in 2015 that was co-led by RRE Ventures and Vulcan Capital and backed by Razor’s Edge Ventures.
Mithril Capital Management subsequently led an $18m round the following year that included RRE, Vulcan Capital and Razor’s Edge.