Vilnius, Lithuania – 8th April, 2024 – Blackswan Space, a Vilnius based space tech startup developing advanced software products for complex space & defense missions has secured €760k ($800) in pre-seed funding round.
Since 2019 Blackswan Space has pioneered autonomous space technologies in collaboration with the European Space Agency (ESA) and commercial partners. Its Mission Design Simulator (MDS) enables customers to simulate complex spacecraft maneuvers for in-orbit servicing, object retrieval missions, space domain awareness, or simulating satellite constellations in real-time. The Vision Based Navigation (VBN) hardware payload running proprietary algorithms, enables spacecrafts to perform autonomous navigation maneuvers when control from the ground is not possible.
The funding round was led by Scale Wolf, a hybrid accelerator and VC fund for defense tech with participation from Linas Sargautis, co-founder of NanoAvionics, Lemonade Stand, Baltic Sandbox Ventures, and Vladas Lašas – a serial entrepreneur and angel investor.
“We are in a strong position to solve one of the major problems and opportunities facing the space economy today – the growing number of satellites and other space infrastructure in orbit that will be impossible to control all from the ground” stated Marius Klimavicius, co-founder and CEO of Blackswan Space. “Our nimble team has bootstrapped by self-funding and winning contracts from ESA, this funding round is the rocket booster to help us level up.”
The company will use the funding to grow its engineering staff to accelerate product development and scale its commercial activities.
Dave Harden, partner at Scale Wolf VC and former COO & co-founder of AFWERX, a US Air Force’s research laboratory put it succinctly: “We are glad to be one of the first investors in Blackswan Space. Their vision and technology are perfectly timed. Space domain is the next big thing in the defense sector”.
Linas Sargautis, angel investor and co-founder of Kongsberg NanoAvionics a leading small satellite manufacturer and operator, added: “I am glad to back this talented company, developing products that enable a wide range of in-orbit servicing applications — the new frontier of the space industry”.
Since its inception in 2019, Blackswan Space has been successfully developing its Mission Design Simulator and Vision Based Navigation products with internal funding, R&D grants, and multiple contracts from the European Space Agency. With the new infusion of capital, the company is well positioned to accelerate MDS and VBN development and commercial activities in 2024, preparing for in-orbit demonstration of its core technologies in the next few years – all part of the bigger picture to support the exponential growth of the in-space economy.
About Blackswan Space
Vilnius, Lithuania based space tech company Blackswan Space is building advanced software products for complex space & defense missions. Currently offering two products. Mission Design Simulator (MDS) a software solution that allows customers to simulate complex spacecraft maneuvers, be it for in-orbit servicing, object retrieval missions, space domain awareness, adversary spacecraft risks or satellite constellations in real-time. Vision Based Navigation (VBN) hardware payload running proprietary algorithms, which enables spacecrafts to perform autonomous navigation maneuvers when control from the ground is not possible. The final vision is to create an autonomous software verification and validation platform called ACE connecting all the above into a one-stop-shop to make sure your space mission goes as planned. Currently, the company is serving a diverse range of industrial and institutional customers ranging from satellite mission integrators to the European Space Agency.
About Scale Wolf VC
Launched in Vilnius, Lithuania in 2023 Scale Wolf is first of its kind venture capital fund and an allied technology accelerator program focusing on dual use technologies that can cater to defense as well as commercial applications simultaneously. Located in Vilnius, we collaborate with the Lithuanian Ministry of Economy and Innovation to help select regional companies build and grow their dual-use technology businesses.
About Lemonade Stand
Lemonade Stand is an early stage deep tech VC fund investing in breakthrough B2B technology startups in the Baltics and Eastern Europe. The fund is led by Siim Teller, an early team member of Skype, GrabCAD and other prominent Estonian startups and has already made more than 40 investments in the region.
About Baltic Sandbox Ventures
Based in Vilnius, Lithuania Baltic Sandbox Ventures is the region’s first early-stage venture capital fund specialising in Life Science and Deep Tech. Our focus is pre-seed and seed level startups with a strong emphasis on technology and IP. It supports these startups through incubation and acceleration programs, offering grants and investments to pre-seed entrepreneurs.
