Round is closed so the full Memo is hidden for confidentiality.

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Traction

$4-6M booked revenue, likely to hit $10M by EOY

Customers include: Vast, Impulse, Apex Space, USAF, CDN Navy, Axiom, Hermeus, K2, Precursor SBC, others

Notable opportunities:

• Collaborating on Vast/SpaceX commercial space station initiative
• Receiving contract to provide radios for NASA's new space suits
• RF Platform for Hermeus' Hypersonic Vehicle
• Early traction on a scaled RF connectivity and sensing network

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Founders

CEO: Previously at SpaceX, Spire Global, Ettus Research, and Sparton Defense

COO: Previously co-founder at Kepler Communications ($500M valuation)

Founder: Previously at Digital Ocean and Github

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Raise & Terms

Seed+ ($27.5M post-money cap (including MFN terms))

Series A planned in the next 12 months

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Investors

‍Blue Yard Capital (Bit.Bio, Pitch, Meatable) - Lead

Caffeinated Capital (Brex, Airtable, Affirm)

‍Acequia Capital (Airbnb, Block, Flexport)

First In Capital (Anduril, Phylum, Mammoth Cyber)

Also Capital (Eight Sleep, Varda Space, K2 Space)

Among others.