Orbit Fab has raised US$28.5 million in a Series A funding round to propel forward its first missions to provide satellite refuelling services in GEO, LEO, and VLEO orbits.
The latest injection of funding was led by 8090 Industries. Other investors included Stride Capital, Industrious Ventures, Lockheed Martin Ventures, Tribe Capital, Good Growth Capital, and Massive Capital Partners.
Orbit Fab is a Colorado based company developing on-orbit fuel shuttles to dock with and replenish spacecraft using its refuelling interface, the Rapidly Attachable Fluid Transfer Interface (RAFTI).
The newspace startup hopes to launch at least four shuttle missions over the next three years – these include three military contracts, valued at US$21 million, to help the US government refuel, reuse, and manoeuvre spacecraft around debris.
The fresh funding comes just as the company looks to continue expanding after doubling its team over the last year, and establishing an office in the UK. Orbit Fab said it will continue to ramp up its technical and production capabilities in both the US and the UK.
An Artist’s impression of the Orbit Fab Shuttle refuelling Astroscale’s LEXI spacecraft. Courtesy: Orbit Fab.
