Colorado-based startup Sagittarius Logistics has secured $1.2 million in a pre-seed funding round. The company, founded last year by former Masten Space Systems employees, plans to use the capital to develop a reusable launch program.
The investment round was backed by Nova Threshold, Felicis Scout Fund, Ingenuity VC, and Space Venture Studios. The startup is led by CEO Jonathan Slavik, COO Jenna Edwards, and chief of production Daniel Sinkel, alongside founder Dave Masten.
Sagittarius Logistics aims to develop a launch system capable of operating from inland sites, reducing reliance on coastal launch facilities. The company is designing reusable first and second stages that can return to land in the event of an abort.
The firm is currently acquiring a pre-tested rocket engine and working on vehicle structures and avionics. While the company intends to raise further capital, it estimates that bringing its launch vehicles to market will require over $1 billion.
