Press Release article originally published on Payload written by By Jacqueline Feldscher on June 22, 2023.
Continuum Space Systems announced today that it has closed a $3M seed round, bringing the company’s total fundraising to more than $6M.
Continuum’s mission: The startup, which was established in 2021, offers customers a cloud-based platform to take care of many of the logistics required to quickly get customers to space. Customers can come to Continuum with an idea for a space mission, but no clear details on how many spacecraft will be needed, what orbits will be required, or other scientific details, CEO Marc Fagan told Payload.
The company can then work on ideation, design, build, and test milestones. Once the mission is launched, Continuum also takes care of mission operations in orbit, primarily with machine learning and AI.
“We’re all about getting people to space faster and cheaper,” he said.
The platform is built around technology licensed from Caltech, which manages NASA’s JPL, according to the company’s website.
The round: The seed round was led by Prophetic Capital Partners. Other investors include Mandala Space Ventures, Explorer1 Fund, Freeflow Ventures, and Unlock Venture Partners.
Fagan said Continuum initially sought to raise $2M for the round, but has oversubscribed to $3M and is still fielding additional interest that could push it even higher.
“We couldn’t be happier,” he said. “This is going to give us a superior position to lock this space down and own it.”
The seed funding will allow Continuum to add to its engineering team, launch new platform features, and grow its customer base.
