Fleet House raises $100 million to develop satellite tv for pc mining prospecting expertise

Late-stage house offers are down this 12 months, with one notable exception. Fleet Space Technologies‘$100 million, Sequence D.

The Adelaide, Australia-based startup has raised new funding to speed up the event of ExoSphere, a platform enabling real-time mining prospecting from house. The corporate at the moment has two satellites in low Earth orbit that hook up with sensors on the bottom; Utilizing synthetic intelligence, sensors and satellite tv for pc knowledge can generate predictive info and goal drilling for prospectors.

Fleet may also ship a payload to the Moon aboard Firefly Aerospace’s lunar lander in 2026. This sensor will seize seismic knowledge from the lunar floor that can assist researchers higher perceive the Moon’s subsurface and its mineral properties .

The brand new spherical, which values ​​the corporate at $525 million, was led by Lecturers’ Enterprise Development (TVG), the funding arm of the Ontario Lecturers’ Pension Plan, and joined by present traders Blackbird Ventures, Hostplus, Horizons Ventures, Artesian Enterprise Companions, and Alumni Ventures. The corporate has greater than doubled its valuation since its Sequence C funding spherical final 12 months.