Space Traffic Management Startup Scout Closes Bridge Funding Round
Space tech startup Scout has closed a bridge funding round led by Decisive Point, bringing total capital raised to $1.5 million. The Virginia Innovation Partnership Corporation and Geospatial Alpha participated in the round as well. Scout did not share the specific amount of money raised.
Scout, founded in 2019, is developing space traffic management and autonomous proximity operations services. The company said this funding will allow it to hit key milestones in 2022, bringing its Scout-Vision proximity operation system to production readiness. The funding will also support Scout’s first OVER-Sat mission in 2023.
Eric Ingram, co-founder and CEO of Scout said that Decisive Point is a valuable strategic investor because it can help the company speak the language of the defense and intelligence community.
“This round helps us build critical programs and infrastructure for Scout-Vision’s market readiness and accelerates us towards OVER-Sat’s launch scheduled for next year. Decisive Point recognizes the value Scout is bringing to the space and national defense segments, and the impending need for more verification and validation capabilities in orbit,” Ingram said.
Thomas Hendrix, Decisive Point managing partner said that Scout will disrupt the space domain awareness market, and that its technology has 1000-times better resolution that current capabilities on the market. “SCOUT is changing the way space operations are executed by building vision-based autonomy solutions for Earth and space, enabling systems to better identify and avoid risks and failures through their SCOUT-Vision product,” Hendrix commented.
The company is going through its Seed funding round, which opened earlier this month. Scout will be competing in the Startup Space competition on March 22 at the SATELLITE 2022 conference.