Muon Space to develop and deliver three
satellites for SNC's Vindlér™ capability, a pioneering project in
commercial RF capabilities
MOUNTAIN
VIEW, Calif., Aug. 5, 2024
/PRNewswire/ -- Muon Space, an end-to-end Space Systems Provider
that designs, builds, and operates mission-tailored low-earth orbit
(LEO) satellite constellations, is proud to announce the successful
completion of a $56.7* million
Series B funding round led by Activate Capital. Acme
Capital and existing investors Costanoa Ventures, Radical
Ventures, and Congruent Ventures all joined the round. This
equity financing accelerates buildout of Muon's Halo™ Platform and
positions the company to scale the spectrum of capabilities it
delivers to a growing customer base.
In a testament to its rapidly growing traction in the space
technology sector, Muon Space has now secured over $100 million in committed customer contracts in
2024 for its Halo LEO satellites. A key highlight of these
contracts is a landmark agreement with SNC 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."
The partnership between Muon Space and SNC underscores the
combined strengths of an industry leader in ELINT/tactical sensors
and the innovative potential of New Space and agility of modular
design in Muon's Halo satellite technology. This collaboration is
set to redefine commercial RF solutions and deliver unparalleled
value to various mission applications.
"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."
The Series B funding round underscores investor confidence in
Muon Space's innovative approach and market potential. 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.
"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."
"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."
* $56,703,744 to be
precise
About Muon Space
Founded in 2021, Muon Space is an
end-to-end Space Systems Provider that designs, builds, and
operates LEO satellite constellations delivering mission-critical
data. Our revolutionary, integrated technology stack enables
customers to optimize every dimension of their missions for faster
time-to-orbit and superior constellation remote sensing
performance. Our state-of-the-art facility in the heart of Silicon
Valley is optimized for manufacturing spacecraft and rapid,
flexible payload integration at scale. From climate monitoring to
national security, Muon Space is dedicated to delivering Earth
Intelligence for a safer and more resilient world.
For more information on Muon Space,
visit: https://www.muonspace.com/
About SNC
SNC is a trusted global leader in aerospace
and national security. Our innovative solutions enable connected
protection through command, control and communications systems, as
well as ISR, cyber, electronic spectrum management, and other high
capabilities for national security systems across all domains –
sea, land, air, space and cyber. SNC is a next-generation prime at
the optimum intersection of commercial, defense and non-traditional
contractors. We are one of the only privately owned mid-tier
A&D prime contractors and we pride ourselves on our ability to
invest early and often to ensure mission success on or ahead of
schedule. It's part of our mission to always stay one step ahead;
working on solutions today to solve the problems of tomorrow.
Founded in 1963, SNC is owned by Chairwoman Eren Ozmen and CEO Fatih
Ozmen.
About Activate Capital
Activate Capital is a
growth-stage venture capital firm investing in the sustainable,
resilient transformation of the global economy. Our portfolio
companies address climate change and other disruptive global forces
by accelerating decarbonization and strengthening our shared
systems of energy, production, transportation, trade, and
infrastructure. Activate invests in technology companies at their
inflection point, led by exceptional entrepreneurs building
category-defining platforms.
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SOURCE Muon Space