A U.S. startup building a returnable capsule raised $44 million in investment capital
The new American company Inversion Space — which is developing an orbiting cargo capsule called Arc — has now raised $44 million in private investment capital.
The Los Angeles-based company announced Nov. 20 that it raised a Series A round led by Spark Capital and Adjacent, with participation from Lockheed Martin Ventures, Kindred Ventures and Y Combinator. The company has raised $54 million to date, with a $10 million seed round in 2021. It also won in September a Strategic Funding Increase (STRATFI) agreement with the Space Force’s SpaceWERX valued at $71 million, a combination of government and private funding to support work on reentry vehicles tailored for military customers.
Inversion will use the funds to further development of Arc, a reentry vehicle designed to provide what it called “precision delivery on-demand” from space to the Earth. The company is currently working on the design of Arc with a first flight planned for 2026.
The number of companies developing orbiting cargo capsules, either to provide supplies to the new space stations or to do manufacturing in orbit for return and sale on Earth, appears to be growing by leaps and bounds. First there was SpaceX’s Dragon, though the company has not yet flown any in-space manufacturing missions. Varda followed next, and has already flown and returned one capsule successfully. Sierra Nevada will follow next year with the first launch of its reusable Tenacity Dream Chaser mini-shuttle. Inversion will be the fourth.
In Europe there is The Exploration Company in France with its Nyx capsule, the German startup Atmos with its Phoenix capsule, and the Spanish startup PLD with its Lince capsule. There may be more.
All of these orbiting and returnable capsules have multiple profit opportunities, which explains why there has been a willingness of investors to provide them funds. They can either supply cargo to the four private stations presently under construction, or fly independent orbital missions where the capsule carries equipment to produce products of value that can only be manufactured in weightlessness.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
The new American company Inversion Space — which is developing an orbiting cargo capsule called Arc — has now raised $44 million in private investment capital.
The Los Angeles-based company announced Nov. 20 that it raised a Series A round led by Spark Capital and Adjacent, with participation from Lockheed Martin Ventures, Kindred Ventures and Y Combinator. The company has raised $54 million to date, with a $10 million seed round in 2021. It also won in September a Strategic Funding Increase (STRATFI) agreement with the Space Force’s SpaceWERX valued at $71 million, a combination of government and private funding to support work on reentry vehicles tailored for military customers.
Inversion will use the funds to further development of Arc, a reentry vehicle designed to provide what it called “precision delivery on-demand” from space to the Earth. The company is currently working on the design of Arc with a first flight planned for 2026.
The number of companies developing orbiting cargo capsules, either to provide supplies to the new space stations or to do manufacturing in orbit for return and sale on Earth, appears to be growing by leaps and bounds. First there was SpaceX’s Dragon, though the company has not yet flown any in-space manufacturing missions. Varda followed next, and has already flown and returned one capsule successfully. Sierra Nevada will follow next year with the first launch of its reusable Tenacity Dream Chaser mini-shuttle. Inversion will be the fourth.
In Europe there is The Exploration Company in France with its Nyx capsule, the German startup Atmos with its Phoenix capsule, and the Spanish startup PLD with its Lince capsule. There may be more.
All of these orbiting and returnable capsules have multiple profit opportunities, which explains why there has been a willingness of investors to provide them funds. They can either supply cargo to the four private stations presently under construction, or fly independent orbital missions where the capsule carries equipment to produce products of value that can only be manufactured in weightlessness.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News