With the recent closing of a USD 16.2 million Series A investment, Atomos Space will be able to complete its demonstration trip and demonstrate its docking and towing skills. 

Orbital Transfer Vehicles (OTVs), which the business is developing, allow for repositioning satellites in orbit. According to the hypothesis, by enabling the movement of flying objects into various orbits, they are freed from the necessity of possessing complete navigational skills, which should result in a significant reduction in the cost of running spacecraft. The business says that by having it, satellite companies’ launch expenses are virtually cut in half.

The business plans to transition to nuclear OTVs, which could go faster and further and provide commercial mobility services, starting with high-powered electric propulsion systems. The company is excited to announce that it sees these propulsion systems as stepping stones. Additionally, the business is placing itself in a position to employ this technology for asteroid deflection, thus eliminating Harry Stamper’s job.

“I worked on designing launch vehicles, spacecraft propulsion systems, and new technologies for moving around in space, and I immediately recognized that handling logistics in space is not ideal. The best comparison we can make is with airplanes. Consider being the only passenger on a single-use aircraft, bringing everything with you, and being unable to shop en route. Therefore, if you want to drive about to your final destination, you must bring the automobile and petrol, according to Atomos Space CEO and co-founder Vanessa Clark.

The business has received its third round of venture capital investment, and up to this point, its docking and propulsion systems have been constructed and tested on the ground. Flying the first vehicle is the crucial next step.

The technology’s first applications include repositioning satellites mid-mission and delivering deployed satellites to their ultimate locations. When a vehicle reaches the end of its useful life, it might be relocated to a cemetery or disposal orbit, where it will burn up in space.

The business is particularly enthusiastic about nuclear propulsion in space. It is making significant investments in that area, assuring us that it significantly increases speed and cargo capacity.

The business claims that with the new investment round, it will increase the size of its team and introduce its first two OTVs in early 2024. The Yamauchi No. 10 Family Office, the family that created Nintendo, and Cantos Ventures jointly led the investment, with participation from Upheaval Investments, Dolby Family Ventures, Arden Road Investments, Elefund, and Techstars.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.


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