Muon Space announced the close of an oversubscribed $89.5 million Series B1 round, which puts its total Series B raise at $146 million. Led by Congruent Ventures, the latest round of capital is made up of $44.5 million in equity and $45 million in credit facilities.
The Mountain View-based company, which aims to deliver end-to-end satellite constellation solutions for commercial and defense customers, is focused on scaling its operations across several areas. To support that work, Muon has acquired propulsion startup Startlight Engines and opened a 130,000-square-foot facility in San Jose for manufacturing and testing.
Starlight’s Zinc-fueled thruster system is designed to serve as a safer, more affordable and scalable alternative to xenon- and krypton-based systems, which are traditionally expensive and lead to supply chain challenges. The acquisition will give Muon Space access to in-house propulsion capabilities that will bolster its Halo platform, a comprehensive tech stack that enables high-performance satellite constellations.
“We’re focused on delivering mission-optimized satellite constellation systems to customers at unprecedented speed,” Muon Space CEO Jonny Dyer said in a statement. “High-performance constellations require the speed, cost, consistency and performance of volume production — they can’t be built one satellite at a time. We are building the world’s first automated, high-mix, high-volume constellation manufacturing system. It’s always been about the mission — now we’re delivering it at scale.”
