Lonestar Data Holdings Completes $5m in Oversubscribed Seed Financing
Lonestar Data Holdings has successfully closed its $5 million Seed with this financing round being oversubscribed. The round has been led by Scout Ventures and joined by Seldor Capital, 2 Future Holding, The Veteran Fund, Irongate Capital, Atypical Ventures, and KittyHawk Ventures.
"We are thrilled to have completed this successful seed round and are sincerely grateful for the support and vision of our investors." Chris Stott, CEO of Lonestar.
Chris Stott, CEO of Lonestar.
"We believe that expanding the world's economy to encompass the Moon, which happens to be the Earth's most stable satellite, is the next whitespace in the New Space Economy," says Scout Ventures' Founder and Managing Partner, Brad Harrison. "Data security and storage will be a necessary part of leading the new generation of lunar exploration."
The VC funded startup is working to revolutionize premium mission critical data services and communications from Earth's largest satellite, the Moon.
The successful closing of the company's Seed funding round is a major milestone for Lonestar and will help the team to accelerate its growth and expand its offerings to meet the needs of its clients around the world.
Lonestar Data Holdings Plans to Establish Data Centers on the Moon
Lonestar Data Holdings is scheduled to launch a series of data centers to the lunar surface in 2023. The company sees the Moon as the ideal location to serve the premium segment of the $200 billion global data storage industry while addressing key environmental and growing biosphere concerns triggered by the increasing growth of data centers around the world.
"Data is the greatest currency created by the human race," Stott said in a 2022 news release. "We are dependent upon it for nearly everything we do and it is too important to us as a spec
ies to store in Earth's ever more fragile biosphere. Earth's largest satellite, our Moon, represents the ideal place to safely store our future."
Following the success of the company's groundbreaking edge data center test on the ISS in December 2021, working with Canonical and Redwire, Lonestar is now pressing ahead with the first of its lunar data centers.
Lonestar Data Holdings has contracted to perform a series of advanced service tests on Intuitive Machines' IM-1 mission, which is headed near Marius Hills in the larger Oceanus Procellarum, and then to fly their first full data services payload on Intuitive Machine's IM-2 to the lunar pole. Lonestar has also made the necessary spectrum filings for its missions from the ITU with the Moon as their focus.
(Source: Lonestar Data Holdings news release. Images provided)