Vilnius-based Blackswan Space has secured €760,000 to expand its engineering team, accelerate product development, and scale its commercial activities. The funding round was led by Scale Wolf.
- Established in 2019, Blackswan Space develops software products for complex space and defense missions:
- Mission Design Simulator (MDS), a software program designed to allow users to simulate complicated spacecraft maneuvers in real-time for a variety of purposes, including in-orbit servicing, object retrieval missions, space domain awareness, and satellite constellations.
- Vision-Based Navigation (VBN), is a hardware payload with proprietary algorithms that enable spacecraft to autonomously navigate when ground control is unavailable.
- According to the startup, its long-term goal is to establish an autonomous software validation and verification platform called ACE, putting all its services into an integrated system that secures space mission success.
- The investment round was led by Lithuanian Scale Wolf, a venture capital fund and technology accelerator that focuses on dual-use technologies that have applications in both the defense and commercial sectors.
- Other backers include:
- Estonian Lemonade Stand, a venture capital firm that invests in Baltics and East European startups, with funds ranging between €50,000 and €300,000;
- Vilnius-based fund Baltic Sandbox Ventures that funds early-stage startups in life science and deep technology solutions;
- In addition, co-founder of NanoAvionics Linas Sargautis, and serial entrepreneur and angel investor Vladas Lašas also took part in the round.
“Our nimble team has bootstrapped by self-funding and winning contracts from ESA; this funding round is the rocket booster to help us level up.” co-founder and CEO of Blackswan Space, Marius Klimavicius, stated.
- The capital will help Blackswan Space accelerate MDS and VBN development and commercial activities in 2024 to be ready for the in-orbit demonstration of its core technologies in the years to follow.
