Slingshot Aerospace has completed its $41 million funding from several investors, the company announced on December 6, Tuesday.
The space data analytics firm aims to use this massive investment to move forward with its space safety projects.
Slingshot Aerospace Bags $41 Million Funding
As per the latest news story by the Space News, Slingshot Aerospace has finally completed its Series A2 funding round. The space firm bagged a cool $40.8 million from various massive investors.
The news outlet notes that Sway Ventures led this funding round. Other space venture firms have joined, including Lockheed Martin Ventures, Valor Equity Partners, ATX Venture Partners, Draper Associates, and Valor Equity Partners.
Besides these investors, the space data firm disclosed that Horizon Technology Finance granted a separate loan.
The Slingshot Aerospace Chief Executive Officer (CEO), Melanie Stricklan, told Via Satellite that the multi-million funding validates their aim to create a safer outer space.
Stricklan notes that the firm has completed this funding round despite the looming signs of recession in various parts of the world.
Slingshot's Aim for a Safer Space
The Slingshot co-founder says "I think [it is] validation that [we are] on the right track, and that space [is not] getting any safer."
The chief exec also spoke about the funding to Space News. Stricklan says that the successful funding round only goes to show that these investors "understand the urgent need for safe and sustainable spaceflight operations."
She also disclosed that the space data firm has already raised $85.2 million in total. That includes previous funding rounds.
One of the investors of Slingshot now includes Sway Ventures. The General Partner of the latter, Khouri-Haddad, believes that "the massive growth in space operations carries a significant risk as well as an opportunity."
Via Satellite reports that the offerings of Slingshot focus on space safety systems. The space data firms believe that making this uncharted territory safe requires a holistic approach.
And as such, Slingshot is looking at both physical and non-physical risks, which include "space weather" and "radio frequency environment." Meanwhile, the former covers debris around outer space.
Space News reports that the space data firm offers its space domain awareness services to the United States Space Air Force.
It is worth noting that the US Space Air Force recently kicked off its new office that caters to commercial services. It means that the agency could potentially acquire the offerings of firms like Slingshot Aerospace.
Stricklan says that the US Department of Defense and Congress are more open to commercial acquisition. Both have seemed to realize that "the government [does not] have to build those technologies," the big boss of Slingshot adds.
