Starfish Space, a company developing on-orbit satellite servicing solutions, has raised USD 14 million in a Series A funding round led by Munich Re Ventures, with participation from Toyota Ventures and other returning investors from its seed round which includes PSL Ventures, NFX, and MaC VC.
The new funding will be used to expedite the development of its Otter service vehicle and the Otter Pup mission. The funds will also be used to facilitate the growth of the company and to increase its workforce.
Starfish Space’s demonstration mission, “Otter Pup,” is slated to launch in the summer of this year, which, if successful, would be the first instance of two separate commercial satellites docking in low Earth orbit, according to the company.
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