WASHINGTON — Muon Space, a Silicon Valley-based startup developing small satellites for Earth monitoring and other applications, announced Aug. 5 that it has raised $56.7 million in Series B funding.
The fundraising round was led by Activate Capital, with participation from Acme Capital and existing investors Costanoa Ventures, Radical Ventures and Congruent Ventures.
The company said it plans to use the new capital to accelerate development of its Halo low-Earth orbit satellite platform and scale operations.
Muon Space reported that it has secured more than $100 million in customer contracts committed to 2024 for its small satellites.
Coinciding with the funding announcement, Muon Space revealed a new agreement with aerospace and defense contractor Sierra Nevada Corporation (SNC) to produce three satellites for SNC’s Vindler commercial radio frequency remote sensing system. The first Vindler satellites are scheduled for launch in 2025.
Gregory Smirin, President of Muon Space, said the Series B funding round “underscores investors’ confidence in Muon Space’s technology and market potential. With this capital raise, Muon Space plans to scale up its operations, expand its product offering, and continue to pioneer advancements in space-based sensing and analytics.”
SNC's Vindler satellites will be used to detect and geolocate specific objects from low Earth orbit based on targeted radio frequency emissions. SNC partnered with Spire Global to launch the first four satellites of the planned Vindler constellation.
Muon Space announced in May an agreement with the non-profit organization Earth Fire Alliance to build a constellation Focused on forest fire prevention and monitoring.
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