Space-as-a-service startup Muon Space closed a $56.7 million fundraising round to scale its satellite platform, while also announcing a new deal with defense giant Sierra Nevada Corp.
California-based Muon designs, builds and operates satellites in low Earth orbit on behalf of customers. Some customers, like Hydrosat, provide their own payloads, while others, like the nonprofit coalition Earth Fire Alliance, use Muon-developed payloads. Muon’s business model represents a new paradigm for access to space: Instead of spending years developing satellite hardware and flight software, mission operations, and data processing, customers can use Muon’s end-to-end service instead.
The startup says it has secured over $100 million in committed contracts from customers this year alone for its Halo satellite platform. That includes $60 million in deals announced earlier this year to design 10 remote-sensing satellites for unnamed customers. More recently, the company also announced a new deal with Sierra Nevada for the development of three spacecraft for the Vindlér remote sensing constellation. The first Vindlér satellite built by Muon is scheduled to launch in 2025.
The Series B round was led by Activate Capital, with participation from Acme Capital and participating investors Costanoa Ventures, Radical Ventures and Congruent Ventures. It brings the company’s total capital raised to over $91 million, including a 2022 Series A round and a seed round in 2021.
