Australian newspace company Fleet Space Technologies has secured AUS $50 million (US $33 million) in a Series C fundraising round to grow its satellite-enabled mineral exploration services.
The funding was led by existing investor Blackbird, an Australasian venture capital firm along with Grok Ventures, Alumni Ventures and Hostplus. The round valued the venture at over AUS $350 million (US$232 million), more than double its valuation since the firm’s Series B round in 2021.
The latest injection of cash will be used to expand Fleet’s Exosphere mineral exploration business, particularly in North America, to add to its roster of 30 clients globally, which include Rio Tinto, Barrick Gold Corporation, and Core Lithium.
Fleet Space’s Exosphere business provides low impact mineral exploration solutions to mining companies globally. Courtesy: Fleet Space Technologies.
