Blackswan Space, a Vilnius-based space tech startup developing advanced software products for complex space and defense missions, has secured €760,000 in a pre-seed funding round.
The funding round was led by ScaleWolf, a hybrid accelerator and fund for defense technology, with participation from Linas Sargautis, co-founder of NanoAvionics, Lemonade Stand, and Baltic Sandbox Ventures, and Vladas Lašas, serial entrepreneur and angel investor.
Founded in 2019, Blackswan Space is pioneering autonomous space technology in collaboration with the European Space Agency (ESA) and commercial partners. The company’s Mission Design Simulator (MDS) enables customers to simulate complex spacecraft operations, including in-orbit servicing, object recovery missions, space domain awareness and real-time simulation of satellite constellations.
A Vision-Based Navigation (VBN) hardware payload running proprietary algorithms allows the spacecraft to perform autonomous navigation operations when control from the ground is not possible.
“We are in a strong position to solve one of the major problems and opportunities facing the space economy today: the proliferation of satellites in orbit and other space infrastructure that is impossible to control from the ground,” said Marius Klimavičius, co-founder and CEO of Black Swan Space. “Our agile team has bootstrapped through self-funding and winning a contract from ESA. This funding round is a rocket booster that will help us level up.”
The company will use the funding to expand its engineering staff, accelerate product development and expand commercial activities.
“We are pleased to be one of the first investors in Black Swan Space,” said Dave Harden, partner at Scalewolf and former COO and co-founder of AFWERX, a U.S. Air Force research organization. “Their vision and technology are perfectly timed. Space is the next big thing for the defense sector.”
Linas Sargautis, angel investor and co-founder of Kongsberg NanoAvionics, a leading small satellite manufacturer and operator, added: “We are pleased to back this talented company as it develops products that enable a wide range of in-orbit servicing applications, a new frontier for the space industry.”
Since its inception in 2019, Black Swan Space has successfully developed its Mission Design Simulator and Vision-Based Navigation products through internal funding, R&D grants and multiple contracts with the European Space Agency. With the new capital infusion, the company is poised to accelerate development and commercial activities of its MDS and VBN in 2024, preparing for an in-orbit demonstration of its core technologies in the coming years, all part of a larger plan to help fast-track the space economy.