Venture Capital: Starfish Space Scores $7M Raise For Its Otter Servicing Spacetug

September 29, 2021 | News, Venture Capital
https://dailyalts.com/wp-content/uploads/2021/09/EuYBdW7UYAIwwba.jpg

Starfish Space is a satellite servicing company founded by former Blue Origin and NASA engineers.

Starfish Space, a startup that is eyeing a market for on-orbit satellite servicing, missions such as debris removal and satellite life extension, announced its $7 million raise in a round co-led by NFX and MaC Venture Capital, with participation from PSL Ventures, Boost VC, Liquid2 Ventures, and Hypothesis. (SPACEREF)

The Otter space tug

Starfish Space has raised the funds for developing its Otter space tug, a satellite servicing vehicle that can target, capture and move objects in space orbit. These objects may be in Low Earth Orbit (LEO) – typically space debris; or Geostationary Earth Orbit (GEO) – usually large geostationary spacecraft.

It is envisioned that Otter could also serve as essential infrastructure in a future, off-world economy. On its website, Starfish says: “Starfish Space is focused on evolving technology for the off-world ecosystem through the engineering of their Otter space tug. Using novel RPO autonomy and robotics, Otter will be the first space tug of its kind, a new species in space.”

Because Otter is small and highly versatile, it will ultimately lower costs and boost availability for satellite servicing missions including life extension and active debris removal.

Starfish is also developing its CEPHALOPOD software to perform satellite Rendezvous, Proximity Operations, and Docking (RPOD).

“At Starfish Space we’re trying to change the way humans interact with the universe around us,” says Austin Link, Co-Founder of Starfish Space. “There’s still a lot to do, but we’re now in a position to build on our early successes.”

“As space becomes more and more commercialized, we see huge opportunities to solve Earth’s problems in space,” says Adrian Fenty, MaC Venture Capital Managing General Partner. “Additionally, as space becomes more crowded and more regulated, we see a massive need for companies like Starfish to provide satellite services and deorbiting.

Related Story: Space Debris And Satellite Tracker LeoLabs Nabs $65M

Image credit: Starfish Space

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/10/1024px-North_Dakota_Flaring_of_Gas.jpg
Digital Assets: Russian Energy Firms Seek Go-Ahead To Use Flared Gas For Mining Crypto
October 22, 2021     Digital Assets, ESG and Sustainability, News

Russia’s crypto mining industry is in expansion mode after China’s clampdown on its crypto miners. Also wanting to join the party are Russian oil and gas companies that flare, or…

https://dailyalts.com/wp-content/uploads/2021/10/archive-g1a80093d6_640.jpg
Artificial Intelligence: Rossum, The Document AI Company, Raises $100M
October 22, 2021     Artificial Intelligence, News, Venture Capital

Rossum offers an end-to-end AI document processing solution that combines its cognitive data capture platform with a full suite of integration capabilities to automate document-based communications between diverse businesses. The…

https://dailyalts.com/wp-content/uploads/2021/10/equal-gd63ae6939_640.png
Alternative Investments/ESG: New York Life Floats ETFs For Gender Equality, Clean Oceans, Cleaner Transport

The three thematic ETFs meet investor demand for ESG approaches. IndexIQ, the New York Life Investments company, announced Wednesday the launch of three new ETFs. The IQ Engender Equality ETF…

https://dailyalts.com/wp-content/uploads/2021/10/ecommerce-gb64d16291_640.jpg
FinTech: Wells Fargo Invests $10M In Cloud Payments Provider Volante
October 21, 2021     FinTech, News, Venture Capital

Volante Capital, a provider of cloud payment services and financial messaging, announced Wednesday an investment of $10 million by Wells Fargo Strategic Capital. Wells Fargo joins Wavecrest Growth Partners, BNY…