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Satellite startup Muon Space secures $56M funding, inks deal with Sierra Nevada Corp

Muon Space funding
Picture credits: Muon Space

California-based Muon Space, a spacetech startup, has completed $56.7 million in Series B funding. Activate Capital led the round alongside participation from Acme Capital and existing investors Costanoa Ventures, Radical Ventures, and Congruent Ventures joined the round. 

This round follows the recent spacetech investments such as Germany-based ISPTech and French startup Skynopy.

Funds utilisation

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. This funding will be instrumental in supporting the company’s growth and the execution of its strategic initiatives. It will also accelerate the buildout of Muon’s Hal Platform and position the company to scale the spectrum of capabilities it delivers to a growing customer base.

“Muon Space’s cutting-edge technology, phenomenal track record of execution, and multi-billion dollar market potential make it a highly compelling investment opportunity,” said Raj Atluru, Managing Partner of Activate Capital. “With the industry’s best team and technology built around a compelling vision and huge opportunity, we believe Muon Space is positioned to define the next era of space infrastructure.”

What challenge does it tackle?

Earth Intelligence integrates the physical sciences, aerospace engineering, software engineering data science, and industry domain expertise to offer a dynamic and detailed understanding of the planet and human activity on it, aiding in the sustainable management of natural resources, enhancing safety and global security, and supporting the response to global environmental challenges like Climate Change. 

With its revolutionary, integrated technology stack, Muon Space enables customers to optimise every dimension of their missions for faster time-to-orbit and superior constellation remote sensing performance. From climate monitoring to national security, the company is dedicated to delivering Earth intelligence for a safer and more resilient world.

What does the company do?

Founded in 2021 by Jonny Dyer, Dan McCleese, Pascal Stang, and Paul Day, Muon Space is made up of a team of more than 70 engineers and scientists, including industry experts from organizations like SpaceX, Skybox, NASA, and others. It designs, builds, and operates satellites in low Earth orbit on behalf of customers. To date, the company has secured over $100 million in committed customer contracts in 2024 for its Halo LEO satellites. 

Recently, the company also secured a deal with the defence giant Sierra Nevada Corp for the development and delivery of three next-generation satellites to further SNC’s Vindlér commercial RF technology. The first Muon satellite block is slated for launch in 2025.

SNC’s Vindlér constellation delivers industry-leading RF collection and analytics functionality. The additional satellites will significantly enhance the ability to simultaneously collect multiple signals of interest over an unprecedented range of the RF spectrum. This will also increase total downlink volumes, thereby transforming current commercial possibilities and supporting an expanding array of mission sets.

“SNC teamed up with Muon Space for an advanced radio frequency sensing satellite capability and end-to-end mission solution,” said Tim Owings, Executive Vice President of SNC’s MST business area. “Muon’s scalable design, instrument development, and operations support, coupled with our RF technology, diverse data sets, and analytic capabilities, will provide a new level of commercial possibilities starting in 2025.”

“Having an established industry leader like SNC select Muon Space for this mission really underlines our competitive edge,” said Gregory Smirin, President of Muon Space. “Our end-to-end solution offers a significant advantage, providing SNC with a seamless and integrated approach from design to deployment and operations. This partnership validates our commitment to delivering comprehensive, cutting-edge constellation performance that stands out in an extremely competitive market.”

“Our mission at Muon Space is to harness the power of space to deliver critical insights and data that drive meaningful change on Earth,” said Jonny Dyer, CEO of Muon Space. “This funding and our growing list of top-tier strategic partners, like SNC, position us to accelerate our mission and make space-based intelligence accessible and impactful across a variety of sectors. We are dedicated to pushing the boundaries of what is possible in space to unlock a safer and more resilient world.”

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