Defense Technology Innovator Blackswan Space secures €760k in a pre-seed funding

Blackswan Space, a Vilnius-based SpaceTech startup that creates cutting-edge software solutions for challenging space and defense technology, has raised a total of €760k in a pre-seed finance round.

ScaleWolf, a hybrid accelerator, and fund for defense technology, led the fundraising round. Other participants included Linas Sargautis, co-founder of NanoAvionics, Lemonade Stand, Baltic Sandbox Ventures, and angel investor and serial entrepreneur Vladas Lašas.

Since its establishment in 2019, Blackswan Space has actively collaborated with the European Space Agency (ESA) and private partners to spearhead autonomous space technologies. Moreover, Customers can simulate complex spacecraft movements for in-orbit servicing, object retrieval missions, space domain awareness, or real-time simulation of satellite constellations using its Mission Design Simulator (MDS).

When control from the ground is not possible, spacecraft can undertake autonomous navigation maneuvers thanks to the Vision Based Navigation (VBN) hardware payload that runs proprietary algorithms.

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Marius Klimavicius, co-founder and CEO of Blackswan Space, said:

“We are in a strong position to solve one of the major problems and opportunities facing the space economy today: the growing number of satellites and other space infrastructure in orbit that will be impossible to control all from the ground. With contracts from ESA and self-funding, our agile team has bootstrapped itself; this funding round is the rocket booster to help us level up.”

With the money, the business will expand its engineering team, speed up product development, and expand its business operations.

x-COO and co-founder of AFWERX, Dave Harden, a partner at ScaleWolf, stated:

“We are happy to be among the first investors in Blackswan Space. Their well-timed technology and vision align perfectly with the current landscape. Further, the next major thing in the defense industry is the space domain.”

Linas Sargautis, an angel investor and co-founder of Kongsberg NanoAvionics, a renowned small satellite maker and operator, further stated, “I am happy to support this outstanding company that is creating products that open up new avenues for the space industry by enabling a wide range of in-orbit servicing applications.”

With the help of internal funds, R&D grants, and many contracts from the European Space Agency, Blackswan Space has been successfully developing its Mission Design Simulator and Vision Based Navigation technologies since its founding in 2019. As part of a larger plan to support the in-space economy’s exponential growth, the company is well-positioned to accelerate MDS and VBN development and commercial activities in 2024 and get ready for the in-orbit demonstration of its core technologies in the coming years thanks to the new capital infusion.

Image Credit: Blackswan Space