Acme Capital and existing investors Costanoa Ventures, Radical Ventures, and Congruent Ventures all joined the round.
This equity financing accelerates buildout of Muon's Halo Platform and positions the company to scale the spectrum of capabilities it delivers to a growing customer base.
In a testament to its rapidly growing traction in the space technology sector, Muon Space has now secured over $100 million in committed customer contracts in 2024 for its Halo LEO satellites. A key highlight of these contracts is a landmark agreement with SNC for the development and delivery of three next-generation satellites to further SNC's Vindlér commercial RF technology. The first Muon satellite block is slated for launch in 2025.
SNC's Vindlér constellation delivers industry-leading RF collection and analytics functionality. The additional satellites will significantly enhance the ability to simultaneously collect multiple signals of interest over an unprecedented range of the RF spectrum. This will also increase total downlink volumes, thereby transforming current commercial possibilities and supporting an expanding array of mission sets.
"SNC teamed up with Muon Space for an advanced radio frequency sensing satellite capability and end-to-end mission solution," said Tim Owings, Executive Vice President of SNC's MST business area. "Muon's scalable design, instrument development, and operations support, coupled with our RF technology, diverse data sets, and analytic capabilities, will provide a new level of commercial possibilities starting in 2025."
The partnership between Muon Space and SNC underscores the combined strengths of an industry leader in ELINT/tactical sensors and the innovative potential of New Space and agility of modular design in Muon's Halo satellite technology. This collaboration is set to redefine commercial RF solutions and deliver unparalleled value to various mission applications.
"Having an established industry leader like SNC select Muon Space for this mission really underlines our competitive edge," said Gregory Smirin, President of Muon Space. "Our end-to-end solution offers a significant advantage, providing SNC with a seamless and integrated approach from design to deployment and operations. This partnership validates our commitment to delivering comprehensive, cutting-edge constellation performance that stands out in an extremely competitive market."
The Series B funding round underscores investor confidence in Muon Space's innovative approach and market potential. With this capital raise, Muon Space plans to scale its operations, expand its product offerings, and continue to pioneer advancements in space-based sensing and analytics. This funding will be instrumental in supporting the company's growth and the execution of its strategic initiatives.
"Muon Space's cutting-edge technology, phenomenal track record of execution, and multi-billion dollar market potential make it a highly compelling investment opportunity," said Raj Atluru, Managing Partner of Activate Capital. "With the industry's best team and technology built around a compelling vision and huge opportunity, we believe Muon Space is positioned to define the next era of space infrastructure."
"Our mission at Muon Space is to harness the power of space to deliver critical insights and data that drive meaningful change on Earth," said Jonny Dyer, CEO of Muon Space. "This funding and our growing list of top-tier strategic partners, like SNC, position us to accelerate our mission and make space-based intelligence accessible and impactful across a variety of sectors. We are dedicated to pushing the boundaries of what is possible in space to unlock a safer and more resilient world."
