Regina Garcia
Slingshot Aerospace has raised $40.9 million in a series A2 funding round and secured a venture loan from Horizon Technology Finance to support product commercialization and global expansion initiatives.
Sway Ventures led the investment activity and was joined by Lockheed Martin‘s venture arm, ATX Venture Partners, C16 Ventures, Valor Equity Partners and Draper Associates, Slingshot said Tuesday.
The space data analytics company will utilize a portion of the funds raised to finance the acquisition of Numerica‘s space domain awareness division and U.K.-based satellite and launch data provider Seradata.
Proceeds from the funding round will also be used to build out the company’s global sensor network and expand its Digital Space Twin software platform.
“Our successful funding round during a global economic downturn is validation that investors understand the urgent need for safe and sustainable spaceflight operations as activity in orbit outpaces current space traffic management constructs,” said Melanie Stricklan, CEO and co-founder of Slingshot Aerospace.
