Outpost Raises $7M Seed Round to Develop Returnable Satellites
Space startup Outpost, which is developing technology for returnable and reusable satellites, has raised a $7.1 million Series Seed round. Moonshots Capital led the oversubscribed funding round announced Tuesday.
The company, Outpost Technologies Corporation, was founded by former Made in Space co-founder Jason Dunn. The company said it has developed, and flight tested a re-entry method to return satellites to Earth. The technology involves an inflatable heat shield and guided landing with a paraglider. The first Outpost satellite is targeted for launch in early 2023. Returnable satellites can enable satellite reuse and payload return, the company said.
CTO Michael Vergalla, formerly of Moon Express, SpinLanch, and the Airbus Acubed innovation center, explained the technology is a two-state, re-entry system that uses autonomous paraglider technology.
“Outpost is reimagining, from first principles, how a satellite mission would change if the satellite were reusable,” Dunn said. “We believe that our approach will be the default expectation of the market over the coming years, and that the current single-use satellite approach will eventually disappear.”
Lead investor Moonshots Capital has also invested in companies like Slack, Signal, and satellite weather sensor PlanetIQ. Other investors in the round include Draper Associates, Starlight Ventures, Kittyhawk Ventures, AIR Capital, Starburst Ventures, Shasta Ventures and others.
The company plans to use the capital to advance tech development and grow the company’s team. Outpost is based in Santa Monica, California.