We’re thrilled to share that at Spaceium, we have successfully closed an oversubscribed seed round of $6.3 million, led by Initialized Capital. After participating in Y Combinator’s Summer 2024 batch, we met our fundraising goal in just four weeks and quickly became oversubscribed due to strong investor interest. We’re gearing up for our demonstration mission as we work toward building the space superhighway.
We bootstrapped out of our laundry room in the early days before raising angel investments. Despite enormous growth in the space industry, missions are currently limited to the amount of fuel a spacecraft can carry. After dozens of iterations and prototypes, we’ve developed groundbreaking technology to make in-space refueling a reality. Once our refueling stations are operational, they’ll revolutionize the possibilities and economics of human activity in space. Enabling refueling in space allows spacecraft to extend lifespans, conduct more operations, reduce launch costs, and carry heavier payloads.
Fuel is invaluable for spacecraft and satellite operators—nothing can reach or function in space without propellant. That’s where we come in. Spaceium is tackling this critical need with a robust pipeline of customers already requiring multiple metric tons of fuel per mission. Two of our leading breakthrough technologies are our proprietary fuel tanks, which can store propellant in space for multiple years, and the advanced robotic arms we developed in-house.
We’re fortunate to be backed by an amazing group of investors. Y Combinator and Initialized Capital—known for supporting unicorns like Rippling, Coinbase, and Reddit—led our round. Other incredible participants include Zeno Ventures, Olive Tree Capital, DTX Ventures, 16Z Scout Fund, Crosscourt Ventures, Giangels, Calm Ventures, Alumni Ventures, Spacedust Ventures, Capitalize Funds, Outfit Ventures, Mergus Ventures, Hydrocarbon Minerals, and an exceptional group of angel investors like Saturning Pugnet (Worldcoin), Justin Hamilton (Clutterbot), and Benjamin Bryant (Earbits). “With launch costs already steadily decreasing, we think Spaceium is pursuing the next highest-leverage orbital financial solution,” says Andrew Sather, partner at Initialized Capital. “In-space refueling will greatly expand the capabilities and 4X the productive lifespans of their clients’ on-orbit assets. These remarkable founders will revolutionize the economics of space.”
Our vision is bold. Within the next five years, Spaceium’s refueling stations—capable of carrying multiple metric tons of fuel—will support missions across Very Low Earth Orbit (VLEO), Low Earth Orbit (LEO), Geostationary Orbit (GEO), the moon, and Mars. We look forward to partnering with government agencies, commercial space programs, and businesses operating in and traveling to these destinations.
With this funding, we’re ready to demonstrate our refueling technology in orbit and recruit an incredible team of builders.
We are going to Mars. We’re going to deep space. And we’ll get there using fuel from Spaceium.
Source: Spaceium