Phantom Secures Funding to Propel Innovation in Satellite Technology

Insider Brief:

• Phantom Space Crop. has closed a bridge funding round to develop and manufacture satellites and launch vehicles.
• The exact value of this round remains undisclosed, but the company has secured approximately $37 million to date.
• One of Phantom’s flagship projects, Daytona, is a versatile launch vehicle tailored for payloads weighing up to 500 kilograms.
• Image credit: Phantom Space Corp.

Phantom Space Corp., headquartered in Tucson, Arizona, recently announced the successful closure of a bridge funding round aimed at advancing the development and manufacturing of satellites and launch vehicles. While the exact value of this round remains undisclosed, the company has secured approximately $37 million to date.

Founded in 2019 by industry veterans Jim Cantrell and Michael D’Angelo, Phantom focuses on collaboration with existing suppliers rather than pursuing vertical integration. This approach enables the company to efficiently produce satellites and launch vehicles while offering affordable access to space.

One of Phantom’s flagship projects, Daytona, is a versatile launch vehicle tailored for payloads weighing up to 500 kilograms. In addition, the company is set to launch the Phantom Cloud small satellite constellation, poised to provide satellite data backhaul services, on-orbit cloud storage, and edge computing capabilities.

The recent bridge funding round, led by Balerion Space Ventures, underscores the enthusiasm surrounding Phantom’s innovative endeavours. Other notable participants include the Reaser Family Office and Kolh Capital, reflecting confidence in the company’s vision.

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