Prime Movers Lab Invests $15M in Quantum Space
Prime Movers Lab is investing $15 million into Quantum Space (Quantum), the two companies announced Dec. 13. The investment enables Quantum to begin expanding QuantumNet, a cornerstone project aimed to provide data products and digital services for customers from cislunar space. Quantum also plans to close the Series A round of funding by the end of 2022. Prime Movers Lab is a U.S.-based venture capital firm.
QuantumNet will consist of a fleet of space vehicles known as ‘Scouts’ positioned in cislunar space. Each Scout will deliver multiple services including: space domain awareness; space weather forecasting; positioning, navigation, and timing; communications; and significant onboard compute capabilities for artificial intelligence and machine learning. By 2032, more than 40 Scout vehicles will make up points, or ‘nodes’, at strategic locations within cislunar space to create QuantumNet.
The $15 million investment allows Quantum to move forward with plans to launch the QS-1 mission in October 2024, which will launch the first Scout into cislunar space. Following that mission, the company will launch Scouts regularly to build out QuantumNet. Additionally, Quantum will use the capital to initiate development of additional Scout spacecraft at significant cost savings once the QS-1 design is complete. Other uses for the funding from Prime Movers Labs include developing Quantum’s new state-of-the-art Integration & Test facilities and Mission Operations Center, as well as advancing the company’s data platform and software for customers.
“Today’s space industry is dominated by services for Earth and the satellites that closely orbit it. However, this is starting to change as humanity expands its activities to the Moon and beyond. We believe Quantum Space will play a critical role in establishing the infrastructure to support humankind’s expansion beyond Earth,” Anton Brevde, partner at Prime Movers Lab said in a statement.