Silicon Valley-based satellite startup Muon Space announced the completion of a $56.7 million Series B financing round for small satellite development and applications such as Earth observation. The round was led by Activate Capital and included participation from Acme Capital and existing investors Costanoa Ventures, Radical Ventures and Congruent Ventures. 

Muon Space

Muon Space plans to use the new capital to accelerate the development of its Halo low Earth orbit satellite platform and scale its operations. The company reported signing over $100 million in customer contracts for its small satellites in 2024. It also announced a new agreement with defense and aerospace contractor Sierra Nevada Corporation (SNC) to manufacture three satellites for SNC's Vindlér commercial radio-frequency remote sensing system. These satellites are scheduled for launch in 2025. Gregory Smirin, President of Muon Space, stated that the Series B financing round underscores investors' confidence in Muon Space's technology and market potential. The company plans to scale its operations, expand its product range and continue to innovate in the space-based sensing and analysis space. The satellites for SNC's Vindlér system will be based on radio frequency emissions to detect and geolocate specific objects from low Earth orbit. 

Muon Space was founded in Mountain View, California in 2021 and has since raised significant capital through various funding rounds. It completed a $25 million Series A funding round in 2022 and a $10 million seed funding round in 2021. The company is designing and building 10 satellites for commercial, government and non-profit organizations, ranging in size from 150 to 500 kilograms, scheduled for launch in 2025 and 2026. Muon Space's Muon Halo platform offers comprehensive services to meet customers' space-based data needs. These services include systems engineering, integration and optimization of on-orbit operations using high-fidelity digital twin models.