New Fleet Space funding to expand nano-satellite network

Adelaide-based Fleet Space Technologies is reportedly pursuing a significant new private-equity financing on the back of surging demand for its nano-satellite-driven mineral exploration technology offering.

The company raised US$26.4 million last year in a funding round said to value it at the time at about $126m. CEO and co-founder Flavia Tata Nardini told the Australian Financial Review this week Fleet Space was currently in the middle of a new capital raising that was “bigger than the previous one”.

Further capital would accelerate production and deployment of nano-satellites that link with on-ground sensors and analytical software to speed surveying of large exploration leases.

Tata Nardini said 27 companies were now either using or preparing to use its technology. It has publicly identified ASX-listed Core Lithium and US nickel explorer Talon Metals among them.

Backers of Fleet Space’s November 2021 equity raise included Artesian Venture Partners, Blackbird Ventures and Grok Ventures.

 

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