Pre-seed fundraising round of €760k ($800) has been secured by Blackswan Space, a Vilnius-based space tech business that creates cutting-edge software products for challenging space and defence operations.
Blackswan Space has been leading the way in autonomous space technology since 2019 through partnerships with the European Space Agency (ESA) and private companies. Customers can simulate complex spacecraft movements for in-orbit servicing, object retrieval missions, space domain awareness, or real-time simulation of satellite constellations using its Mission Design Simulator (MDS). When control from the ground is not possible, spacecraft can undertake autonomous navigation manoeuvrers thanks to the Vision Based Navigation (VBN) hardware payload that runs proprietary algorithms.
Leading the funding round was Scale Wolf, a hybrid accelerator and venture capital fund focused on defence technology, with involvement from angel investor and serial entrepreneur Vladas Lašas, as well as Linas Sargautis, co-founder of NanoAvionics, Lemonade Stand, and Baltic Sandbox Ventures.
Marius Klimavicius, co-founder and CEO of Blackswan Space, said, “We are in a strong position to solve one of the major problems and opportunities facing the space economy today – the growing number of satellites and other space infrastructure in orbit that will be impossible to control all from the ground.” “Our nimble team has bootstrapped by self-funding and winning contracts from ESA, this funding round is the rocket booster to help us level up.” With the money, the business will expand its engineering team, speed up product development, and expand its business operations.
In his own words, Scale Wolf VC partner Dave Harden, a former US Air Force research laboratory COO and co-founder of AFWERX, said, “We are happy to be among the first investors in Blackswan Space.” Their technology and vision are well-timed. The next major thing in the defence industry is space domain.
Linas Sargautis, an angel investor and co-founder of Kongsberg NanoAvionics, a renowned small satellite maker and operator, further stated, “I am happy to support this outstanding company that is creating products that open up new avenues for the space industry by enabling a wide range of in-orbit servicing applications.”
With the help of internal funds, R&D grants, and many contracts from the European Space Agency, Blackswan Space has been successfully developing its Mission Design Simulator and Vision Based Navigation technologies since its founding in 2019. As part of a larger plan to support the in-space economy’s exponential growth, the company is well-positioned to accelerate MDS and VBN development and commercial activities in 2024 and get ready for the in-orbit demonstration of its core technologies in the coming years thanks to the new capital infusion.
