Space traffic management startup Scout closes bridge funding round
Space technology start-up Scout closed a bridging financing round led by decisive point, bringing the total capital raised to $1.5 million. the Virginia Innovation Partnership Society and Geospatial Alpha also participated in the tour. Scout did not share the specific amount of money raised.
Scout, founded in 2019, develops local space traffic management and autonomous operations services. The company said the funding will allow it to reach key milestones in 2022, bringing its Scout-Vision proximity operating system to production readiness. The funding will also support Scout’s first OVER-Sat mission in 2023.
Eric Ingram, co-founder and CEO of Scout, said Decisive Point is a valuable strategic investor because it can help the company speak the language of the defense and intelligence community.
“This cycle helps us build critical programs and infrastructure for Scout-Vision’s market readiness and accelerates us towards the launch of OVER-Sat scheduled for next year. Decisive Point recognizes the value that Scout brings to the space and national defense segments, and the imminent need for more in-orbit verification and validation capabilities,” Ingram said.
Thomas Hendrix, managing partner of Decisive Point, said Scout would disrupt the space domain reconnaissance market and that its technology has a resolution 1000 times greater than current market capabilities. “SCOUT is changing the way space operations are performed by creating vision-based autonomy solutions for Earth and space, enabling systems to better identify and avoid risks and failures through their SCOUT-Vision product. “, commented Hendrix.
The company is going through its seed funding round, which opened earlier this month. Scout will participate in the Startup Space competition on March 22 at the SATELLITE 2022 conference.