Starfish Space, a Washington-based startup, has raised $29 million in a funding round led by Shield Capital, a key investor in defense technologies. The funding will support the development and deployment of three full-size satellite servicing and inspection spacecraft, set to launch in 2026.

The company’s flagship spacecraft, Otter, is designed for two main missions: extending the operational lifespan of geostationary orbit (GEO) satellites and safely disposing of defunct satellites in low Earth orbit (LEO). This marks a significant shift for satellite operators, who traditionally expect their satellites to have a fixed operational life. As CEO and co-founder Austin Link explained to tech Crunch, the goal is to make satellite servicing cost-effective enough to justify the investment.

A Strong Investor Lineup

The funding round saw participation from several notable investors, including Point72 Ventures, Booz Allen Ventures, Aero X Ventures, Trousdale Ventures, TRAC VC, and existing backers like Munich Re Ventures, Toyota Ventures, NFX, and Industrious Ventures. Shield Capital’s involvement is particularly notable given its focus on national security technologies.

Link, who founded Starfish Space in 2019 alongside Trevor Bennett after their tenure as engineers at Blue Origin, reflected on the journey: “You start a company because you want to build satellites, not because you want to fundraise,” Prior to this round, the company raised $7 million in 2021 and $14 million in 2023.

Progress Despite Challenges

Starfish Space launched its first demonstration mission, Otter Pup, last summer. While the mission faced setbacks, the company has since achieved significant milestones, including securing three contracts for full-size Otter spacecraft. These include:

• $37.5 million contract with the U.S. Space Force: For a groundbreaking docking and maneuvering mission with a GEO defense satellite.
• Partnership with Intelsat: For satellite life extension services.
• $15 million NASA contract: For inspecting multiple defunct LEO satellites, announced during the fundraising process.

Otter Pup integration VAST's Orbiter

Balancing Commercial and Government Demand

Starfish has intentionally sought investors with experience navigating government contracts, which Link acknowledged can be challenging to scale. Currently, demand for their services is split between government and commercial sectors.

The Otter spacecraft’s capabilities—servicing, life extension, and satellite disposal—are just the beginning. Link hinted at long-term ambitions to expand into complex robotic and servicing missions, driven by advancements in autonomy and robotics.

Starfish Space is positioning itself as a leader in the emerging satellite servicing industry, with plans that extend well beyond Earth’s orbit.