Spaceium Closes $6.3M Seed Round to Build Refueling Stations in Space
Summary
Spaceium, a company building a network of in-space refueling stations, has closed an oversubscribed seed round of $6.3 million, led by Initialized Capital. After participating in Y Combinators Summer 2024 batch, the company met its fundraising goal in three weeks and quickly became oversubscribed, driven by strong investor interest. The company is currently getting ready for the demonstration mission and plans to build the space superhighway.Co-founders Ashi Dissanayake and Reza Fetanat began work on the concept a year and a half ago while developing high-powered rockets to test scientific payloads in microgravity environments. Two of our leading breakthrough technologies are our proprietary fuel tanks, which can store propellant in space for multiple years, and our advanced robotic arms, which we developed in-house, says Fetanat, CTO of Spaceium.Spaceium is backed by an outstanding group of investors. With launch costs already steadily decreasing, we think Spaceium is pursuing the next highest-leverage orbital financial solution, says Andrew Sather, partner at Initialized Capital.