Silicon Valley-based space-as-a-service startup Muon Space has raised $56.7 million in Series B funding led by Activate Capital to develop small satellites for Earth monitoring in low Earth orbit, partnering with Sierra Nevada Corporation.
The round also saw participation from Acme Capital and existing investors Costanoa Ventures, Radical Ventures, and Congruent Ventures. The funding will accelerate the development of Muon Space’s Halo low Earth orbit satellite platform and scale its operations.
In addition to securing $56.7 million, Muon Space announced a new agreement with Sierra Nevada Corporation (SNC) to produce three satellites for SNC’s Vindlér commercial radio-frequency remote sensing system. The first Vindlér satellites, scheduled for launch in 2025, will detect and geo-locate specific objects from low Earth orbit based on targeted radio frequency emissions.
Growing Customer Base and Contracts
Muon Space has reported over $100 million in committed customer contracts in 2024 for its small satellites. These contracts include a $60 million deal to design 10 remote-sensing satellites for unnamed customers. Muon Space’s partnership with the nonprofit Earth-Fire Alliance aims to build a satellite constellation focused on wildfire prevention and monitoring.
Gregory Smirin, president of Muon Space, emphasized that the Series B funding round underscores investor confidence in the company’s technology and market potential. He stated, “With this capital raise, Muon Space plans to scale its operations, expand its product offerings, and continue to pioneer advancements in space-based sensing and analytics.”
Muon Space’s business model offers a new paradigm for access to space. Instead of customers spending years developing satellite hardware and flight software, Muon Space provides an end-to-end service. This model allows customers, like Hydrosat and the Earth Fire Alliance, to use Muon’s satellites without requiring extensive development efforts.
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