Starfish Space raises $29M to propel Otter satellite servicing vehicles

Starfish Space raises $29M to propel Otter satellite servicing vehicles
by Clarence Oxford
Los Angeles CA (SPX) Nov 14, 2024

Starfish Space has announced the successful completion of a $29 million funding round led by Shield Capital, with participation from new backers Point72 Ventures, Booz Allen Ventures, Aero X Ventures, Trousdale Ventures, and TRAC VC, alongside current investors Munich Re Ventures, Toyota Ventures, NFX, and Industrious Ventures.

This funding will facilitate the final development of Starfish's first three Otter servicing vehicles, which are set to conduct missions for major partners including Intelsat, the U.S. Space Force, and NASA. With this latest round, Starfish's cumulative funding surpasses $50 million.

The year 2024 has been significant for the company, marked by several milestones such as the successful Otter Pup rendezvous mission, securing a $37.5 million STRATFI contract with the U.S. Space Force, signing a life extension mission contract with Intelsat, and collaborating with NASA for debris inspection operations in low Earth orbit.

"This new round of funding is a pivotal moment in the journey of Starfish Space, as it will allow us to launch the first Otter satellites to orbit," said Austin Link, Co-Founder of Starfish. "These first Otters will change what is possible when it comes to operating satellites in space. We are excited to partner with an outstanding group of investors to make these missions happen, and proud of the growing support we've received from existing investors as part of this round."

Starfish is at the forefront of developing advanced software and hardware to support the Otter's servicing capabilities. These technologies include the proprietary CETACEAN and CEPHALOPOD software for precise autonomous navigation and docking, and Nautilus, a versatile capture mechanism capable of docking with various client satellites.

"On orbit satellite servicing is a critical evolution to unlock the next level of value for defense and commercial space," noted Letitia 'Tish' Long, newly appointed Starfish Board member and Senior Advisor at Shield Capital.

"Austin, Trevor, and the whole Starfish team have proven their ability to execute complex missions on orbit, and we are excited to be partnering with them as they deliver Otter for critical customer applications."

Currently, Starfish operates out of its headquarters in Tukwila, Washington, with a team of 70 employees. The initial Otter missions, set to launch to geostationary orbit in 2026, will begin providing satellite services soon after.