Long Beach, CA – Orbital Operations, a Y Combinator-backed startup, has successfully raised $8.8 million in seed funding. The round was led by Initialized Capital, with significant participation from Harpoon Ventures, DTX Ventures, Rebel Fund, TRAC VC, Karman Ventures, and Immad Akhund, among other investors. This capital injection is earmarked to accelerate the development of the company's high-thrust, reusable space vehicles designed for critical dynamic space operations, particularly for national security missions.
Orbital Operations is focused on creating vehicles capable of rapid, in-orbit maneuvering, addressing a growing need for swift deployment and repositioning of assets in space. The company's technology centers on pioneering in-space cryogenic propellant management, which enables high-thrust and high-efficiency engines to operate effectively beyond Earth's atmosphere. These vehicles are intended to remain in orbit, providing transportation services from Low Earth Orbit (LEO) to Medium Earth Orbit (MEO), Geosynchronous Earth Orbit (GEO), and even lunar destinations.
Ben Schleuniger, Co-Founder and CEO of Orbital Operations, highlighted the evolving landscape of space access in a recent tweet:
"One of the great things about this day and age is it's getting cheaper and cheaper to get into orbit and start demonstrating these things. It is not quite as easy as just going to a live fire range, but proving your tech in low Earth orbit is becoming more accessible."
This statement underscores the increasing feasibility of developing and testing advanced space technologies. Schleuniger, along with co-founder Ross, previously contributed to the development of turbomachinery systems and heat exchangers for the Aeon-R engine at Relativity Space, bringing significant expertise to Orbital Operations.
Initialized Capital, known for its early-stage investments in technology companies, has a track record of backing innovative startups across various sectors, including those leveraging cutting-edge engineering to solve complex problems. Their lead investment in Orbital Operations signals confidence in the company's vision and the burgeoning space defense sector. The firm's investment strategy often targets companies poised to disrupt traditional industries through technological advancements.
The broader space industry is indeed witnessing a trend of declining launch costs and increased accessibility to LEO, driven by advancements in reusable rocket technology and increased competition among launch providers. This environment is fostering innovation in satellite technology, in-orbit servicing, and space logistics, making it more viable for companies like Orbital Operations to develop and demonstrate their capabilities directly in the space environment. The company plans to use the seed funding to expand its team and further develop its in-house chemical propulsion engine and cryogenic propellant management systems, aiming for an operational vehicle by 2027.