Thursday, March 10, 2022

Slingshot Aerospace Snags $25M

El Segundo, California- and Austin, Texas-based Slingshot Aerospace, a developer of space simulation and analytics software, announced this morning that it has raised $25M in a Series A-1 funding. The funding was led by Draper Associates and ATX Venture Partners, and also included Edison Partners, Embedded Ventures, Valor Equity Partners, Lockheed Martin Ventures, plus Revolution's Rise of the Rest Fund, and Okapi Venture Capital. The startup said the new funds come on top of the $9.6M, Series A funding that it raised in October of 2020. The company has now raised $34.6M. Slingshot says it will use the new funding to accelerate commercialization of its products, which helps with space collision avoidance; the company says it will also use the fund to hire 40 new employees over the next 12 months. More information »