True Anomaly Secures $100M to Propel Space Security Tech Expansion
Denver-based startup True Anomaly has closed a Series B funding round, securing an impressive $100 million. Spearheaded by Riot Ventures, the funding also saw participation from investors such as Eclipse, ACME Capital, Menlo Ventures, Narya, 645 Ventures, and Rocketship.vc, Champion Hill Ventures, and FiveNine Ventures. This substantial financial injection signals a strong demand for cutting-edge solutions at the intersection of space and defense.
True Anomaly, founded in 2022, addresses critical gaps in space situational awareness and defensive operations. The company’s innovative approach combines software and hardware, featuring an autonomous spacecraft called Jackals. These Jackals track, surveil, and collect data on space objects.
The funds raised in this latest round will be instrumental in scaling True Anomaly’s operations. The startup aims to bridge the “information asymmetry” gap. The company’s integrated operating platform, Mosaic, complements the capabilities of the Jackal spacecraft, forming a comprehensive solution to address space security challenges.
Rapid Growth and Recognition
True Anomaly has experienced rapid growth, evident in its 35,000-square-foot facility in Centennial, Colorado. The company doubled its workforce to over 100 employees in its first year of operations. The startup’s commitment to innovation is further emphasized by the upcoming launch of the first two Jackal spacecraft on SpaceX’s Transporter-10 rideshare mission in March.
The startup gained industry recognition by securing a $17.4 million contract from the U.S. Space Force in September. The contract encompasses the development of space domain awareness capabilities, including;
- Object detection
- Tracking
- Characterization
- Artificial intelligence for predictive analysis
Future Prospects
The first two Jackal satellites are to launch on SpaceX’s Transporter-10 rideshare mission in March 2024. This milestone will not only showcase True Anomaly’s technical prowess but also draw considerable attention from stakeholders in Silicon Valley and Washington.
True Anomaly’s latest funding round, supported by investors, positions the company to play a pivotal role in advancing space security technology. As the world navigates an increasingly complex space domain, True Anomaly’s innovations hold promise for addressing critical security challenges on a global scale.
