Starting the space simulation Aerospace Slingshot closed a $25 million Series A-1 funding round, the company announced Thursday. Clothier associatesTim Draper’s venture capital and ATX Venture Partners led the round.
Other investors included Edison Partners, Embedded Ventures, Valor Equity Partners, Lockheed Martin Ventures and previous investors Revolution’s Rise of the Rest Fund, Okapi Venture Capital and others.
This is in addition to Series A funds of $9.6 million raised in October 2020, bringing Slingshot’s Series A total to $34.6 million. The company has raised over $42 million in funding since its inception in July 2017.
Slingshot Aerospace offers an anti-collision communication and coordination platform for space called Slingshot Beacon. The platform connects commercial, government and civilian customers on a single platform to design, manage and protect their satellites and other assets. It is used to mitigate risk and ensure reliable operations for spaceflight operators. The company works with organizations such as OneWeb, Spire Global Inc., Orbit Fab, US Space Force, US Air Force, NASA, Boeing and Lockheed Martin.
Slingshot Aerospace said it will use the funds to accelerate the commercialization of Slingshot Beacon and to hire 40 new employees over the next 12 months.
“Slingshot Aerospace is charting a new course for humanity by developing technology and awareness to ensure space remains a safe and secure gateway to discovery. We share Slingshot’s desire to keep space at the heart of our global economy. for generations to come,” said Tim Draper, founding partner of Draper Associates.