Satellite-servicing startup Starfish Space raises $29 million (Image Credit: Space News)
WASHINGTON — Satellite-servicing startup Starfish Space announced Nov. 13 it raised $29 million in a new funding round led by Shield Capital. Other participants in the round include new investors Point72 Ventures, Booz Allen Ventures, Aero X Ventures, Trousdale Ventures and TRAC VC, as well as existing investors Munich Re Ventures, Toyota Ventures, NFX, and Industrious Ventures.
Starfish Space, founded by former Blue Origin and NASA engineers, develops autonomous satellite servicing vehicles for extending satellite lifespans and removing space debris. The company has gained traction recently, securing a $37.5 million U.S. Space Force contract and deals with commercial satellite operator Intelsat and NASA.
The completion of the new round brings Starfish’s total funding to date to over $50 million.
Starfish, based in Tukwila, Washington, developed an in-space servicing vehicle called Otter. The new funding will enable Starfish to complete the development of the first three Otter vehicles, which will perform missions for Intelsat, the U.S. Space Force, and NASA. The Otter missions for Intelsat and the U.S. Space Force are projected to launch to geostationary orbit in 2026.
Booz Allen Ventures, the venture capital arm of consulting giant Booz Allen Hamilton, said the investment in Starfish represents the fund’s third space-focused investment. “This investment aims to strengthen the resilience and sustainability of space infrastructure through innovative offerings for both government and commercial mission sets,” said Chris Bogdan, executive vice president at Booz Allen and leader of the firm’s space business.
The firm’s previous space investments include Albedo, which develops low-flying satellites for high-resolution Earth observation, and Quindar, a company automating satellite fleet management operations.