Northrop & Lockheed Invest in Orbit Fab's $10M+ Funding Round

Orbit Fab Secures $10 Million for Orbital Refueling Advancement

Orbit Fab, a startup headquartered in San Francisco, is striving to become the leading provider of orbital refueling services. The company has recently raised over $10 million to further this goal.

These funds are earmarked for a crucial refueling demonstration scheduled for launch potentially before the close of 2022. This trial will involve deploying two refueling vehicles to space.

Investment Details and Key Participants

Asymmetry Ventures spearheaded the funding round. Existing investor SpaceFund, alongside new investors Marubeni Ventures and Audacious Venture Partners, also contributed.

A particularly noteworthy aspect of this investment is the joint participation of Northrop Grumman Corporation and Lockheed Martin Ventures. This marks the first instance of these two traditionally competitive entities investing together, as noted by Orbit Fab co-founder Jeremy Schiel in a statement to TechCrunch.

A Collaborative Approach to Space Sustainability

Schiel emphasized Orbit Fab’s role as a facilitator for the entire space industry, stating, “We are the tide that raises all boats.”

He clarified that the company’s services do not provide a competitive advantage to any single entity, but rather promote broader sustainability in space through improved alternatives.

The RAFTI System and Future Integration

Orbit Fab, a 2019 TechCrunch Disrupt Battlefield finalist, has developed a specialized refueling valve known as RAFTI (Rapid Attachable Fluid Transfer Interface).

However, the implementation of RAFTI requires installation on spacecraft prior to launch, necessitating early engagement with major clients, including aerospace contractors, before satellites are deployed into orbit.

Expanding Refueling Capabilities

The vision is for spacecraft equipped with RAFTI to connect with Orbit Fab’s refueling shuttles strategically positioned in low Earth orbit, geostationary orbit, and ultimately, cis-lunar space.

Schiel anticipates that RAFTI will become a standard component on all spacecraft by 2025.

Long-Term Goals: In-Space Resource Utilization

Looking further ahead, Orbit Fab aims to produce fuel directly in space, utilizing resources extracted from asteroids.

“We want to be the Dow Chemical of space,” Schiel explained, envisioning the company as a primary purchaser of materials mined from celestial bodies.

These materials would then be processed into usable propellants for in-orbit production.

The Importance of Orbital Refueling

Orbit Fab believes that orbital refueling will be fundamental to the growth of the emerging space economy.

This includes facilitating the transfer of goods and spacecraft between orbits – a process demanding significant fuel – and establishing supply chains for returning resources to Earth.

“We want to be that supply chain of propellant,” Schiel concluded.