Startup NewSpace Networks Seeks $200M for Software-Centric Space
NewSpace Networks, an aerospace software and investment company is working to raise $200 million to transform the industry from hardware-focused to software-centric. The company plans to do this through a combination of acquisition, investment, and internal product development, and said it has products in development that will be available later this year, along with with key acquisition targets identified and in process.
NewSpace is focused on changing the fact that deploying aerospace infrastructure is currently slow, costly, and highly proprietary by addressing four areas: affordability, efficiency, scalability, and adaptability to multiple market segments. The company said its initial products will address the unique challenges of edge computing via space connectivity.
The company was co-founded by Shaun Coleman, John Metzger and Robert Cleave, who have collectively founded multiple startups resulting in acquisitions by Ungermann-Bass Networks, McAfee, and VMware. Coleman was the first investor and co-founder of space access company Vector Launch, and led its GalacticSky satellite division. NewSpace has partnered with GlobalView Strategic Advisors, a member of GlobalView Group, to assist with strategy, capital raising and M&A.
“Digital terrestrial transformation would not be occurring without the internet and cloud computing. The successful commercialization of space will only be achieved with similar software-based infrastructure to innovate upon,” Coleman said. “Yet, today there is no purpose-built Amazon AWS, VMware or Cisco for aerospace deployments. NewSpace is building, partnering and acquiring this much-needed capability.”