Insider Brief:
- bluShift Aerospace has raised $1.3 million in a seed round led by Houston-based Late Stage Capital, with additional support from Maine Technology Institute.
- The funding is further boosted by a $1 million matching Federal SBIR grant.
- Brady Brim-DeForest, managing partner at Late Stage Capital and CEO of Formula.Monks, will serve as chairman of bluShift’s board of directors.
bluShift Aerospace announced it has raised $1.3 million in a seed round led by Houston-based Late Stage Capital, with additional support from Maine Technology Institute. This funding is further boosted by a $1 million matching Federal SBIR grant. bluShift plans to use the funds to enhance its launch offerings in the orbital and small satellite services markets.
Brady Brim-DeForest, managing partner at Late Stage Capital and CEO of Formula.Monks, will serve as chairman of bluShift’s board of directors. Brim-DeForest has a strong background in AI technology solutions and startup management. He has co-founded six startups and helped Fortune 500 companies innovate. He joins bluShift CEO and founder Sascha Deri, and Maine-based entrepreneur Peter Murray on the board.
Brim-DeForest expressed enthusiasm for bluShift’s growth in the satellite services market. “bluShift’s vertical integration sets it apart. They manufacture non-toxic biofuel, reusable rockets, and are developing a private launch site with access to sun-synchronous orbit,” he said. “Their cost-optimized approach is impressive.”
The new funding represents a significant milestone for bluShift. The company has previously raised nearly $4 million. This latest capital will enable bluShift to complete a full duration burn engine test and prepare for commercial suborbital launches in 2025.
Sascha Deri, bluShift’s CEO, highlighted the importance of the investment. “This funding underscores investor confidence in our team and our vision,” Deri said. “We are using it immediately to advance our mission.”
Deri also pointed out the growing need for small-lift satellite deliveries. The small satellite market often faces long wait times and sub-optimal orbit deliveries due to reliance on larger companies like SpaceX. bluShift aims to address this gap by offering rapid, affordable access to space and direct delivery to desired orbits.
Over the past 20 years, small satellites have transitioned from academic projects to a rapidly growing sector. A study by Straits Research P. Ltd estimates the global market for Cubesats will grow from $210 million in 2021 to $857 million by 2030.
bluShift has chosen Maine’s Downeast coastline for its first private launch services and manufacturing sites. This location offers a strategic advantage for launching into polar orbit over the Atlantic Ocean, with minimal interference from flight patterns and overflight of populated areas.
Image credit: bluShift Aerospace
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