True Anomaly – a technology company developing advanced hardware and software systems to ensure the sustainable security of space – recently announced it has closed a $100 million Series B equity raise. The funding round was led by Riot Ventures with participation from Eclipse, ACME Capital, Menlo Ventures, Narya, 645 Ventures, Rocketship.vc, Champion Hill Ventures, and FiveNine Ventures. And this funding round enables continued investment in people, products, and services to advance True Anomaly’s mission further.
True Anomaly was launched in early 2022 by space operators and technologists who helped define the operational concepts for modern space security operations. And the company builds solutions that address space domain awareness, security, and readiness challenges. This includes a combination of dynamic software applications as well as on-orbit spacecraft performing rendezvous and proximity operations (RPO) and non-Earth imaging (NEI). Plus, the company’s products and services also offer solutions for space operator training, capabilities testing, and rapid response missions.
In the first full year of operations, True Anomaly opened its GravityWorks spacecraft manufacturing facility in the Denver Tech Center and doubled its staff from 50 to more than 100 employees.
True Anomaly has also been steadily expanding its Executive Leadership Team with industry expertise to help scale the business. Mark Seidel joined as Chief Financial Officer and Diana Lovati as Chief Information Security Officer in 2023.
True Anomaly gas recently completed the build, assembly, and integration of its first two Jackal autonomous orbital vehicles (AOVs) – which are slated to launch aboard SpaceX’s Transporter-10 mission in 2024.
KEY QUOTES:
“A responsive and agile defense industrial base is essential to provide the tools for deterrence and global security. Space is the newest and most vulnerable theater of contemporary global competition, but the U.S. and its allies are ill-equipped for a conflict that begins in or extends into space. True Anomaly is solving this by building the technologies for a more secure, stable, sustainable, and transparent space environment. This Series B fundraise equips True Anomaly with the proceeds to maintain a deep focus on our mission, deliver incredible products, and continue to invest in the nation’s next strategic offset.”
– Even Rogers, True Anomaly CEO and Co-Founder
“We’ve had the unique privilege of working with True Anomaly since inception. Doubling down in this round is a reflection of the exceptional execution we’ve witnessed over the last two years. The U.S. and its allies face intense national security challenges in the space domain, and we believe True Anomaly is going to be the company that delivers the core set of capabilities to offset those threats.”
– Will Coffield, Co-Founder and General Partner at Riot Ventures
“True Anomaly’s momentum across technology, product, and commercialization has been staggering in 2023. This Series B not only validates True Anomaly’s traction, but also illustrates the team’s ability to scale, execute on product delivery, and ultimately, secure their incumbency in space security.”
– Seth Winterroth, Partner at Eclipse
