Insider Brief
- Fleet Space has announced the successful completion of an A$150 million (~USD$96 million) Series D funding round led by Teachers’ Venture Growth (TVG), the investment arm of Ontario Teachers’ Pension Plan, alongside existing investors, including Blackbird Ventures, Hostplus, and Horizons Ventures.
- The new investment will fuel the expansion of Fleet Space’s ExoSphere platform, a solution to accelerate the discovery of critical minerals essential for clean energy.
- The smart seismic sensors used in ExoSphere serve as a precursor to SPIDER, a system set to enhance lunar subsurface exploration by 2026.
Fleet Space Technologies, an Australian space exploration company, has announced the successful completion of a A$150 million (~USD$96 million) Series D funding round. The funding was led by Teachers’ Venture Growth (TVG), the investment arm of Ontario Teachers’ Pension Plan, alongside existing investors including Blackbird Ventures, Hostplus, and Horizons Ventures. The new investment will fuel the expansion of Fleet Space’s ExoSphere platform, a solution aimed at accelerating the discovery of critical minerals essential for clean energy.
Addressing the Demand for Critical Minerals
The ExoSphere platform integrates low Earth orbit (LEO) satellites, smart seismic sensors, and AI-powered data analysis to streamline mineral exploration. By offering real-time 3D subsurface imaging, ExoSphere enables mining companies to identify mineral-rich zones with greater accuracy and efficiency. This approach minimizes environmental disruption and meets the growing demand for materials like lithium and cobalt, which are critical to global decarbonization efforts.
Rick Prostko, Senior Managing Director at TVG, highlighted the challenges of traditional mineral exploration methods. “Fleet Space addresses these inefficiencies with advanced tools that have the potential to sustainably transform the industry,” he said.
Strategic Growth and Deployment
Fleet Space has seen rapid growth over the past year, marked by key milestones:
- Global expansion into markets such as the US, Canada, and Chile, with a team of over 130 employees.
- Partnerships with industry leaders like Rio Tinto and Barrick Gold.
- Deployment of ExoSphere for large-scale 3D imaging surveys in regions including Australia’s Macquarie Arc and Chile’s Atacama Desert.
- Launch of ExoSphere Discovery, an AI-powered tool that predicts mineral-rich zones with unprecedented precision.
“The discovery of critical minerals must increase exponentially to electrify society by 2050,” said Niki Scevak, Partner at Blackbird Ventures. “Breakthroughs like ExoSphere are pivotal to achieving this goal.”
Beyond Earth: Laying the Groundwork for Lunar Exploration
Fleet Space is also advancing its technology for off-world applications. The smart seismic sensors used in ExoSphere serve as a precursor to SPIDER, a system set to enhance lunar subsurface exploration by 2026. Collaborations with institutions like MIT Media Lab’s Space Exploration Initiative further support this endeavor, which aims to enable sustainable exploration of the Moon and Mars.
Matt Pearson, Fleet Space’s Chief Exploration Officer, emphasized the broader implications of their technology. “The innovations driving ExoSphere also create a foundation for scalable exploration systems on new worlds. This marks a bold new chapter in space exploration.”
Image credit: Fleet Space
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