Slingshot Aerospace Raises $5 Million in New Seed Funding
Slingshot Aerospace, an analytics company, raised $5 million in new seed funding. The round was led by ATX Venture Partners with participation from new investor Revolution’s Rise of the Rest Seed Fund. The Rise of the Rest Seed Fund is part of Revolution, the Washington DC-based investment firm founded by former AOL Co-founder Steve Case focused on high-growth companies scaling outside of coastal tech hubs. The investment had additional participation from previous investors Okapi Capital, Stage Venture Partners, Sway Ventures, and Techstars Ventures.
Slingshot Aerospace, which has raised $9.1 million total to date, including this round of seed funding, will use the capital to accelerate the company’s product development and hire key talent in finance, business development and software engineering/data sciences. The company’s mission is to help government and commercial customers predict the unexpected and optimize their situational awareness by leveraging Machine Learning (ML) for geospatial intelligence and Space Situational Awareness (SSA). Customers include BAE Systems, Boeing, NASA, and the U.S. Air Force.
“Slingshot is on the cutting edge of applying Artificial Intelligence (AI), ML and big data analytics to geospatial and orbital exploration at a time when insights are more needed than ever,” said Colin Greenspon, Partner at Revolution’s Rise of the Rest Seed Fund. “The company is another great example of a company finding advantages in scaling outside of Silicon Valley, and we look forward to supporting them as government and defense and other arenas apply their technologies.”