Orbit Fab closes $28.5M Sequence A for on-orbit refueling capabilities
Orbit Fab, an organization that wishes to construct a community of refueling stations in orbit, closed a $28.5 million Sequence A to launch extra gas supply and infrastructure missions.
The Colorado-based startup has developed a refueling port referred to as the Quickly Attachable Fluid Switch Interface (RAFTI), which will be built-in onto satellites and orbital servicing autos. Orbit Fab desires to launch on-orbit gas tankers (which the corporate generally analogizes to fuel stations) that may dock with any spacecraft outfitted with a RAFTI interface.
And not using a approach to refuel satellites in area, any given spacecraft’s helpful life is proscribed by how a lot gas its carrying at launch. This will make a satellite tv for pc heavier and costlier, and every maneuver expensive. Orbit Fab says refueling might allow extra in depth satellite tv for pc servicing missions, rendezvous and proximity operations, in-space meeting, and different spacecraft maneuvers that would demand longer lifespans, whereas driving the general value of working a satellite tv for pc down.
Final August, Orbit Fab stated it might ship as much as 100 kilograms of hydrazine to satellites in GEO for $20 million, beginning in 2025.
The corporate already has 4 launches booked over the subsequent three years, together with three missions for the U.S. Division of Protection. A kind of missions, scheduled for early 2025, will see Orbit Fab’s RAFTI port built-in on navy satellites in order that they are often refueled by on-orbit hydrazine tankers. Total, Orbit Fab has closed over $21 million in DOD contracts.
Orbit Fab can be beginning to shut on business clients: the corporate inked an agreement with Astroscale to replenish its orbital service autos in geostationary orbit (GEO).
Along with the Sequence A, which Orbit Fab stated was an up spherical, the corporate introduced that it had doubled its group to sixty individuals over the previous 12 months and plans to rent a minimum of one other 25 this 12 months.
The up spherical was led by 8090 Industries, with extra investments by Stride Capital, Industrious Ventures, Lockheed Martin Ventures, Tribe Capital, Good Progress Capital, and Huge Capital Companions.
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