TGS Baltic advised investors on a pre-seed round raised by Blackswan Space

10.04.2024 TGS Baltic advised investors on a pre-seed round raised by Blackswan Space

Blackswan Space, a Vilnius based space tech startup developing advanced software products for complex space & defense missions has secured €760k ($800) in pre-seed funding round.

Since 2019 Blackswan Space has pioneered autonomous space technologies in collaboration with the European Space Agency (ESA) and commercial partners. Its Mission Design Simulator (MDS) enables customers to simulate complex spacecraft maneuvers for in-orbit servicing, object retrieval missions, space domain awareness, or simulating satellite constellations in real-time. The Vision Based Navigation (VBN) hardware payload running proprietary algorithms, enables spacecrafts to perform autonomous navigation maneuvers when control from the ground is not possible.

The company will use the funding to grow its engineering staff to accelerate product development and scale its commercial activities.

Dave Harden, partner at Scale Wolf VC and former COO & co-founder of AFWERX, a US Air Force’s research laboratory put it succinctly: “We are glad to be one of the first investors in Blackswan Space. Their vision and technology are perfectly timed. Space domain is the next big thing in the defense sector”.

Linas Sargautis, angel investor and co-founder of Kongsberg NanoAvionics a leading small satellite manufacturer and operator, added: “I am glad to back this talented company, developing products that enable a wide range of in-orbit servicing applications — the new frontier of the space industry”.

Since its inception in 2019, Blackswan Space has been successfully developing its Mission Design Simulator and Vision Based Navigation products with internal funding, R&D grants, and multiple contracts from the European Space Agency. With the new infusion of capital, the company is well positioned to accelerate MDS and VBN development and commercial activities in 2024, preparing for in-orbit demonstration of its core technologies in the next few years – all part of the bigger picture to support the exponential growth of the in-space economy.

TGS Baltic venture capital team led by Paulius Dabulskis advised the investors on their deal with the founders!