SANTA MONICA, Calif.--(BUSINESS WIRE)--Outpost Technologies Corporation (“Outpost”), the sustainable space company, announced the closing of a $7.1M Series Seed round. During a bearish fundraising environment, this round was oversubscribed, demonstrating Outpost’s visionary approach to disrupting the satellite market. The company has developed, and flight tested a novel re-entry method that enables satellites to safely return to Earth with precision landing. This technology not only makes single-use satellites obsolete, but also enables the broader aerospace market to attain dedicated payload return to Earth. This round of funding will enable Outpost to advance technology development and build their team with exceptional talent.
“Outpost is reimagining, from first principles, how a satellite mission would change if the satellite were reusable,” said Jason Dunn, CEO and co-founder at Outpost and previously founder at Made In Space. “We believe that our approach will be the default expectation of the market over the coming years, and that the current single-use satellite approach will eventually disappear. It is a gamechanger for our customers.”
The seed round was led by Moonshots Capital, with participation from Draper Associates, Starlight Ventures, Kittyhawk Ventures, AIR Capital, Starburst Ventures, Shasta Ventures and others. This cohort of investors represents industry leaders in space and frontier technology with a strong track record and a deep understanding of the market Outpost is operating in. “In the last 20 years, we’ve seen how reusability for rockets has transformed launch, and we believe that the Outpost team will lead an equally important disruption in satellite operations that is critical for the $270B satellite industry to reach its full potential,” said Craig Cummings, partner at Moonshots and future board member at Outpost.
“The only available options for returning satellites to Earth are costly and inefficient,” said Michael Vergalla, CTO and co-founder at Outpost. “Our two-stage re-entry system offers low-mass, high-efficiency Earth Return, and our advanced autonomous paraglider technology delivers unparalleled landing precision for full recovery of satellites from space.”
Outpost is spearheading a new way of space development that’s reusable, not disposable. With its very first product, Outpost is building reusable satellites that deliver customer payloads to space and back to Earth. By flying payloads with Outpost, users can put their product into space, iterate, and learn how they performed in space. Outpost facilitates iteration in space at a quicker pace than anything else available. The future of space (and Earth) requires a focus on low-cost reusability to create a sustainable industry. At Outpost, we are proud to be leading the charge to develop products with sustainability as the core design.
Learn more at www.outpost.space.
About Moonshots Capital
Moonshots Capital is a seed-stage venture capital firm that invests in extraordinary leadership.
Great leaders are hard to come by. We believe the best ones are military-trained or trial-by-fire entrepreneurs who have the ability to motivate others to action, inspire trust, and plan heuristically. We invest with conviction when those attributes are present.
Moonshots Capital, with offices in Los Angeles and Austin, was founded by a team of veterans in 2017. We have collectively founded and operated 15 companies and have personally invested in over 100 ventures. Beyond capital, we deploy our military and entrepreneurial experience and network to help world-changing companies grow.
Learn more at www.moonshotscapital.com.