Phantom Space Corporation, a Tucson, AZ-based space transportation technology development and manufacturing company, raised $5m in seed funding.
The round was led by Chenel Capital.
The company intends to use the funds to expand its team of engineers, scientists, technicians and managers and its business reach.
Founded by inventors and entrepreneurs Jim Cantrell, Michael D’Angelo, and Michal Prywata, Phantom Space is a space transportation company mass manufacturing launch vehicles, satellites, and space propulsion systems. The company is currently building its first launch vehicle development unit in preparation for stage level testing late this year. The first launch will be with Phantom’s Daytona rocket, which employs US produced oxidizer-rich stage combustion LOX/RP engines built by Ursa Major Technologies in Denver, Colorado.
The company recently acquired StratSpace, an Arizona-based company that develops space systems and flight hardware, leads space market forecasting. StratSpace has hosted 46 space missions and satellite programs since their inception and Phantom will be integrating these core technologies as part of its mission to transform the space transportation industry.
The first orbital launch is scheduled in Q1 2023.