Fleet Space Secures $100M to Expand AI-Powered Mineral Exploration Tech
In a standout deal for the space sector, Adelaide-based Fleet Space Technologies has raised $100 million in Series D funding to scale its cutting-edge satellite-enabled mineral prospecting platform, ExoSphere. This investment comes amid a broader slowdown in late-stage space tech funding, highlighting Fleet Space’s growing industry influence.
Revolutionizing Mineral Exploration with Space Tech
Fleet Space’s ExoSphere platform combines:
- Low Earth Orbit (LEO) satellites (currently two operational)
- AI-driven ground sensors
- Real-time data analytics
The system generates predictive insights and precision drill targeting for mineral prospectors, dramatically improving exploration efficiency.
Lunar Ambitions: Expanding Beyond Earth
The company is also making strides in extraterrestrial exploration:
- 2026 Moon mission with Firefly Aerospace
- Seismic sensor payload to analyze lunar subsurface
- First-of-its-kind mineral property mapping of the Moon
This lunar project will provide unprecedented data about the Moon’s composition, supporting future space resource utilization.
Funding and Valuation Growth
The Series D round:
- Led by: Teachers’ Venture Growth (Ontario Teachers’ Pension Plan)
- Joined by: Blackbird Ventures, Hostplus, Horizons Ventures, Artesian Venture Partners, Alumni Ventures
- Valuation: $525 million (2x increase since Series C in 2023)
Why This Matters
Fleet Space’s technology addresses critical challenges in:
- Sustainable mining through reduced exploratory drilling
- Space resource utilization for future missions
- AI-driven geospatial analytics across industries
The funding positions the company as a leader in the convergence of space technology and terrestrial resource management.
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