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11 April 2024·2 min read

Joy Laoun

News Editor, Vestbee

Lithuanian spacetech Blackswan Space raises €760k in a pre-seed round

Vilnius-based Blackswan Space has secured €760,000 to expand its engineering team, accelerate product development, and scale its commercial activities. The funding round was led by Scale Wolf.

  • Established in 2019, Blackswan Space develops software products for complex space and defense missions: 
  1. Mission Design Simulator (MDS), a software program designed to allow users to simulate complicated spacecraft maneuvers in real-time for a variety of purposes, including in-orbit servicing, object retrieval missions, space domain awareness, and satellite constellations. 
  2.  Vision-Based Navigation (VBN), is a hardware payload with proprietary algorithms that enable spacecraft to autonomously navigate when ground control is unavailable. 
  • According to the startup, its long-term goal is to establish an autonomous software validation and verification platform called ACE, putting all its services into an integrated system that secures space mission success. 
  • The investment round was led by Lithuanian Scale Wolf, a venture capital fund and technology accelerator that focuses on dual-use technologies that have applications in both the defense and commercial sectors. 
  • Other backers include:
  • Estonian Lemonade Stand, a venture capital firm that invests in Baltics and East European startups, with funds ranging between €50,000 and €300,000;
  • Vilnius-based fund Baltic Sandbox Ventures that funds early-stage startups in life science and deep technology solutions;
  • In addition, co-founder of NanoAvionics Linas Sargautis, and serial entrepreneur and angel investor Vladas Lašas also took part in the round. 

“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.” co-founder and CEO of Blackswan Space, Marius Klimavicius, stated. 

  • The capital will help Blackswan Space accelerate MDS and VBN development and commercial activities in 2024 to be ready for the in-orbit demonstration of its core technologies in the years to follow. 

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