Fleet Space Technologies has successfully raised a $100 million Series D funding round to propel its development of ExoSphere, an innovative platform for real-time mineral prospecting from space. This expansion comes as the company aims to enhance its capabilities in analyzing mineral properties both on Earth and beyond.
The Adelaide-based startup currently operates two satellites in low Earth orbit that are paired with ground sensors. By leveraging artificial intelligence, this integrated system produces predictive insights to aid prospectors in their drilling efforts, indicating a significant advancement in space-based mineral exploration.
A notable future initiative includes Fleet's planned payload launch to the moon in 2026 aboard Firefly Aerospace's lunar lander. This high-stakes mission aims to collect seismic data from the lunar surface, which will be crucial for understanding the moon's subsurface and its mineral composition, marking a significant milestone in extraterrestrial resource research.
In this funding round, Fleet Space's valuation surged to $525 million, doubling since their previous Series C investment just a year ago. The funding was primarily led by Teachers' Venture Growth, with support from established investors, reinforcing the company’s position in the competitive space technology landscape.
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