Space Debris Monitoring Company Raises €2.5 Million
Space debris monitoring and satellite collision avoidance platform Neuraspace has raised €2.5 million (≈ $2.75 million) from Armilar Venture Partners to accelerate the commercialization of its platform.
"Neuraspace will do for Space what Feedzai is doing for Finance: using advanced AI and a fully automated risk operations platform to provide actionable insights and manage risk."
Nuno Sebastião, the co-founder and CEO of Feedzai.
Neuraspace's proprietary AI technology enables more accurate space debris monitoring and satellite collision risk prediction, and by applying a data fusion strategy, offers increased robustness and resilience. The platform also automates many of the current manual processes and communications and delivers an end-to-end solution, providing operators with actionable orbital maneuver recommendations to avoid collisions, while delivering valuable insights to various other stakeholders including regulators, insurers and other Space-asset dependent businesses.
With an estimated 1 million debris objects, sized between 1cm and 10cm, in Earth orbit and an exponential growth of launched and planned constellations, satellite collision risk is already increasing dramatically and will continue to do so, as will the consequent massive business disruption and security risks.
Nuno Sebastião, the co-founder and CEO of Feedzai established and funded Neuraspace and hired an international management team to run it. "I worked at the European Space Agency (ESA) Operations Center early in my career, and kept in close contact with the Space ecosystem since then, so I know how this industry operates," said Sebastião. "Neuraspace will do for Space what Feedzai is doing for Finance: using advanced AI and a fully automated risk operations platform to provide actionable insights and manage risk.
"To execute on this vision, Neuraspace has the privilege of having Chiara Manfletti leading the team - Chiara is a former Space researcher and advisor to ESA's Director General, having setup and served as the first President of the Portuguese Space Agency."
"Armilar was the first institutional investor in Feedzai back in 2011 and has been in the Board of Directors since then, so I know by direct experience how much value Armilar adds to the teams it invests in. I couldn't be happier to have Armilar help us take Neuraspace to the next level," Sebastião said.
Armilar feels this investment fits perfectly with the firm's long-standing strategy and experience of investing in early-stage companies, led by top-tier teams, addressing massive opportunities and disrupting industries with high-performing products backed by proprietary technology.
Armilar invested in Neuraspace through its TechTransfer Fund, a Venture Capital fund that aims to invest in startups that strive to commercialize R&D outputs.
(Source: Neuraspace news release)