Dec 4, 2024

Inversion raises $44m for on-demand cargo delivery from Space Inversion has raised $44 million in Series A funding to back its plans for cargo delivery to Earth’s “toughest spots”, from space. The funding round was co-led by Spark Capital and Adjacent, with participation from Lockheed Martin Ventures, Kindred Ventures, and Y Combinator. It brings the Los Angeles startup’s total funding to $54 million, following an earlier $10 million seed round. Arc Inversion says it will use the funding to scale operations and build Arc, its next-gen autonomous re-entry vehicle. Arc will store cargo in orbit and re-enter the atmosphere on-demand, says the company, to deliver to even the most remote parts of the globe. Examples include remote islands, uninhabitable mountains, or the middle of the ocean. Delivery would be in less than an hour, within 20 feet of the destination. There’s also a military component with the logistics support. “Space is currently used as a tool to deliver global internet connectivity and earth observation, both massive terrestrial existing markets,” said Inversion co-founder and CEO Justin Fiaschetti (picture). “Inversion is introducing the third pillar – cargo delivery – transforming the $6 trillion logistics industry.” “We have proven our capabilities, and our Series A funding will help us iterate, scale, and build our next generation of autonomous re-entry vehicles. Transportation and logistics advancements have been transformative throughout history – think of the societal impact of ships, trains, and airplanes – and the ability to access anywhere on Earth in minutes will be just as groundbreaking.” Among the backers were Lockheed Martin. Chris Moran, the vice president and general manager of Lockheed Martin Ventures, said: “Inversion’s innovative approach to on-demand delivery from space has the potential to revolutionize the way goods are transported and delivered globally. We’re excited to support them in their mission to make this vision a reality, unleashing the power of autonomous spacecraft technology to unlock new opportunities for industries and communities around the world.” SpaceWERX The company highlights some recent achievements since its founding in 2021. They were awarded $71 million from SpaceWERX – the innovation arm of the U.S. Space Force – to test technologies that allow such precision delivery to Earth. Also, its existing Ray re-entry vehicle received approval from the Federal Aviation Administration (FAA) to launch and return. This makes it the second company get approval for re-entry under Part 450. This Part 450 outlines regulatory requirements for commercial space transportation. Ray will launch on SpaceX’s Falcon 9 as part of the upcoming Transporter-12 Rideshare mission. Cargo delivery Possible competition, for space cargo delivery, may come from The Exploration Company . Last month it was raising $160m in Series B for space cargo services. The startup has raised $160 million in a Series B funding round. It is developing Nyx, a reusable and in-orbit refillable spacecraft for transporting space cargo. It will be launching from any heavy launcher in the world and the craft would fly to space stations. Image: Inversion