Aerospace startup Muon Space has booked $146 million in total Series B funding, allowing the satellite constellation manufacturer to ramp up production at a new 130,000-square-foot complex in San Jose, California. Its book of business grew by leaps and bounds in 2024, adding over $100 million in contracts. The high-tech team is growing as well, doubling in one year to over 150 employees.
The four-year old company collected $89.5 million in new funds, with $44.5 million in equity and $45 million in credit facilities. The round follows August 2024’s $56 million cash haul. Congruent Venture led the investor syndicate, along with Activate Capital, Acme Capital, Costanoa Ventures, Radical Ventures and ArcTern Ventures. Congruent Managing Partner Joshua Posamentier touted the installment, saying, “Muon is building the high-performance scale solution the space industry has been missing.”
Don’t Miss:
Aerospace engineers Jonny Dyer, Paul Day, Dan McCleese, Reuben Rohrschneider and Pascal Stang incorporated Muon Space in 2021. All have strong resumes in propulsion, mission control and large-scale operations, according to Techfundingnews, with “shared expertise in scalable hardware design and a vision for vertically integrated satellite systems.” It lists its smaller competitors as Planet, Icey, and Spire.
SpaceX and Airbus popularized 21st century satellite constellations, but they have been around for more than three decades. The basic manufacturing tech constructs and deploys multiple satellites into a coordinated network, using streamlined and automated production techniques. The system design has many applications, especially those requiring continuous global coverage. The Starlink satellite system is probably the best-known example of a modern constellation.
Trending: Maximize saving for your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation.
In addition to new funding, Muon announced the acquisition of Starlight Engines, a 2022 propulsion startup described as “pioneering the first commercially available solid propellant Hall-effect thruster systems – a safe, affordable and scalable alternative to traditional propulsion systems.” The company is now integrating the tech into production, expecting the acquisition to “accelerate delivery times while improving both schedule reliability and overall mission performance.”
