Slingshot Aerospace, an Austin, TX and El Segundo, CA-based company building space simulation and analytics products to accelerate space sustainability, raised $25M in Series A-1 funding.
The round was led by Draper Associates, and ATX Venture Partners with participation from Edison Partners, Embedded Ventures, Valor Equity Partners, Lockheed Martin Ventures, Revolution’s Rise of the Rest Fund, and Okapi Venture Capital.
Led by CEO Melanie Stricklan, Slingshot Aerospace is advancing space simulation and analytics solutions that seek to help government and commercial customers accelerate space sustainability. Slingshot Beacon, the company’s space collision avoidance cross-coordination and communications platform, connects commercial, government and civil customers on one system to design, manage, and safeguard their satellites and other assets; mitigate risks; and ensure reliable operations for all spaceflight operators. It works with organizations such as OneWeb, Spire Global Inc., Orbit Fab, U.S. Space Force, U.S. Air Force, NASA, Boeing, Lockheed Martin, and more.
The company intends to use the funds to accelerate the commercialization of Slingshot Beacon and to hire 40 new employees over the next 12 months. Since inception in July 2017, Slingshot has raised $42m in funding.