Starfish Space Raises $29M for Otter Orbital Servicing Vehicles

Insider Brief

• Starfish Space announced the completion of a $29 million funding round to advance the development of its first three Otter orbital servicing vehicle, bringing the company’s total venture funding to $50 million.
• The spacecraft are designed to support upcoming missions for the U.S. Space Force, NASA, and Intelsat, enabling in-orbit satellite servicing and disposal.
• Shield Capital, a venture capital firm focused on advanced technologies, led the investment. Other contributors include new investors such as Point72 Ventures, Booz Allen Ventures, Aero X Ventures, Trousdale Ventures, and TRAC VC, alongside existing backers like Munich Re Ventures, Toyota Ventures, NFX, and Industrious Ventures.

Starfish Space, a Tukwila, Washington-based space tech company, reportedly closed a $29 million funding round to advance the development of its first three Otter orbital servicing vehicles. The spacecraft are designed to support upcoming missions for the U.S. Space Force, NASA, and Intelsat, enabling in-orbit satellite servicing and disposal.

Shield Capital, a venture capital firm focused on advanced technologies, led the investment. Other contributors include new investors such as Point72 Ventures, Booz Allen Ventures, Aero X Ventures, Trousdale Ventures, and TRAC VC, alongside existing backers like Munich Re Ventures, Toyota Ventures, NFX, and Industrious Ventures. This round brings Starfish’s total venture funding to $50 million.

The Otter spacecraft aims to revolutionize satellite operations in orbit. Using proprietary technologies like the Cetacean and Cephalopod navigation systems and the Nautilus orbital capture mechanism, Otter is designed to dock with satellites for inspection, servicing, or safe disposal. Austin Link, co-founder of Starfish Space, highlighted the significance of this funding, stating it enables the company to move forward with its first full-scale Otter missions.

Founded in 2019 by Link and Trevor Bennett, both former Blue Origin engineers, Starfish Space has grown to a team of 70 employees. The company’s ambitions align with a growing demand for on-orbit servicing capabilities in defense and commercial sectors.

Starfish has secured notable contracts, including a $37.5 million agreement with the U.S. Space Force to maneuver national security assets in geostationary orbit and a $15 million NASA mission to inspect defunct satellites beginning in 2027. Additionally, the company will deliver life-extension services to an Intelsat geostationary satellite starting in 2026. A recent study contract with the National Reconnaissance Office further expands the scope of potential applications for the Otter spacecraft.

Last year, Starfish tested a scaled-down prototype called Otter Pup in orbit. While the mission faced challenges, the results validated key technologies and bolstered investor confidence.

Letitia “Tish” Long, a new board member and senior adviser at Shield Capital, underscored the importance of on-orbit servicing in unlocking greater value in space operations. She commended Starfish’s ability to execute complex orbital missions and expressed optimism for the Otter program’s future.

With this latest funding, Starfish is positioned to deliver transformative solutions for satellite servicing, advancing its vision of sustainable and efficient operations in space.

Image credit: Starfish Space