US start-up Star Catcher raises USD 12.2m to develop space energy grid

Star Catcher Industries Inc, a start-up dedicated to the creation of an energy grid for space, has announced its official public launch with a USD-12.25-million (EUR 11.32m) seed round ahead of product demonstration initiatives planned for next year.

The US-based firm seeks to build the world’s first space-based energy grid -- the Star Catcher Network, to provide on-demand power to existing solar arrays of client satellites and other spacecraft in Low Earth Orbit (LEO) and beyond.

The LEO is projected to host more than 40,000 satellites by 2030, with Star Catcher estimating that 840 MW of power generation will be needed to operate these systems. The firm believes its power beaming technology is set to play a crucial role in addressing this power requirement.

Star Catcher noted in the statement that it has already made significant technical progress in developing its constellation and has achieved early traction, securing more than half a dozen letters of intent (LoI) from commercial space companies.

The fund-raising transaction was co-led by Initialized Capital and B Capital, with participation from Rogue VC.

The fresh capital will help the company progress towards the validation and demonstration of its services for customers, beginning with ground demonstrations, followed by an on-orbit demonstration in late 2025.

(USD 1 = EUR 0.924)

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