Australian startup MP Space has secured AUD 23 million, equivalent to $16.1 million, in a seed funding round. The investment was led by Blackbird VC, with contributions from Seraphim Space, Systemiq Capital, Speedinvest, and MFV Partners.
Founded in 2024 by former Tesla engineers Jay Manley and Sam Paterson, the company focuses on manufacturing cost-effective power systems for satellites. MP Space aims to offer an alternative to traditional supply chains and in-house development.
The company recently launched its first batteries on the SpaceX Bandwagon-5 mission and currently holds orders for over 500 spacecraft. To meet this demand, MP Space plans to expand its Sydney facility and engineering team.
The startup targets a production capacity of 5,000 units annually by the end of next year. Funds will also support the development of new power components, including chargers, power-conditioning units, and solar-array drive assemblies.
Looking ahead, MP Space intends to scale its technology for larger, more power-intensive satellites. The company is developing hardware designed to support the increased power requirements expected with the deployment of SpaceX Starship.
