Funding

[Funding alert] Vilnius-based Blackswan Space Secures €760k in Pre-seed Funding

Apr 8, 2024 | By Startup Rise EU

  • Blackswan Space, a space tech startup developing advanced software products for complex space & defense missions has secured €760k ($800) in pre-seed funding round.
  • With the money, the business will expand its engineering team, speed up product development, and expand its business operations.
Blackswan Space, a Lithuania's space tech startup developing advanced software products for complex space & defense missions has secured €760k ($800) in pre-seed funding round.

Blackswan Space, a Lithuania's space tech startup developing advanced software products for complex space & defense missions has secured €760k ($800) in pre-seed funding round.

Since 2019 Blackswan Space has pioneered autonomous space technologies in collaboration with the European Space Agency (ESA) and commercial partners. Its Mission Design Simulator (MDS) enables customers to simulate complex spacecraft maneuvers for in-orbit servicing, object retrieval missions, space domain awareness, or simulating satellite constellations in real-time.

The Vision Based Navigation (VBN) hardware payload running proprietary algorithms, enables spacecrafts to perform autonomous navigation maneuvers when control from the ground is not possible.

Pre-seed funding round was led by Scale Wolf, a hybrid accelerator and VC fund for defense tech with participation from Linas Sargautis, Lemonade Stand, Baltic Sandbox Ventures, and Vladas Lašas – a serial entrepreneur and angel investor.

RECOMMENDED FOR YOU

recomd
Funding
[Funding alert] London-based Metris Energy Secures €2.3 Million in Pre-Seed Funding
Startup Rise EU
Jan 24, 2024
recomd
Recent Articles
London-based Mytraffic Acquired Geoblink
Startup Rise EU
Jan 16, 2024
recomd
UK
[Funding alert] UK-based Halfords Group plc Secure $3m in Funding
Startup Rise EU
Nov 2, 2023

Marius Klimavicius, co-founder and CEO of Blackswan Space said, “We are in a strong position to solve one of the major problems and opportunities facing the space economy today – the growing number of satellites and other space infrastructure in orbit that will be impossible to control all from the ground”  “Our nimble team has bootstrapped by self-funding and winning contracts from ESA, this funding round is the rocket booster to help us level up.”

The company will use the funding to grow its engineering staff to accelerate product development and scale its commercial activities.

Dave Harden, partner at Scale Wolf VC and former COO & co-founder of AFWERX, a US Air Force’s research laboratory put it succinctly: “We are glad to be one of the first investors in Blackswan Space. Their vision and technology are perfectly timed. Space domain is the next big thing in the defense sector”.

Linas Sargautis, angel investor and co-founder of Kongsberg NanoAvionics a leading small satellite manufacturer and operator, added: “I am glad to back this talented company, developing products that enable a wide range of in-orbit servicing applications — the new frontier of the space industry”.

Since its inception in 2019, Blackswan Space has been successfully developing its Mission Design Simulator and Vision Based Navigation products with internal funding, R&D grants, and multiple contracts from the European Space Agency.

With the new infusion of capital, the company is well positioned to accelerate MDS and VBN development and commercial activities in 2024, preparing for in-orbit demonstration of its core technologies in the next few years – all part of the bigger picture to support the exponential growth of the in-space economy.

About Blackswan Space

Vilnius, Lithuania based space tech company Blackswan Space is building advanced software products for complex space & defense missions. Currently offering two products. Mission Design Simulator (MDS) a software solution that allows customers to simulate complex spacecraft maneuvers, be it for in-orbit servicing, object retrieval missions, space domain awareness, adversary spacecraft risks or satellite constellations in real-time.

Vision Based Navigation (VBN) hardware payload running proprietary algorithms, which enables spacecrafts to perform autonomous navigation maneuvers when control from the ground is not possible.

Recommended Stories for You

story
France

[Funding alert] Paris-based SUBLIME Energy Secures €11.5 Million in Funding

Startup Rise EU Mar 11, 2024

story
Funding

[Funding alert] London-based Bloom Secures $10M in Seed Funding

Startup Rise EU Nov 18, 2023

story
Funding

Forestreet Funding News – Forestreet Receives Strategic Investment from Beroe

Team SR Jun 28, 2024

story
UK

[Funding alert] London-based Recraft Raises €11 Million in Series A Round Funding

Startup Rise EU Jan 19, 2024

story
Switzerland

Geneva-based Cloud-Tech Startup Hive Secures €12 Million in Series A Round Funding

Startup Rise EU Mar 27, 2024

story
Funding

[Funding alert] Leiden-based Biotech Startup Pelagen Secures Investment from UNIIQ’s

Startup Rise EU Nov 2, 2023