True Anomaly announced its $260 million fundraising effort. The Series C funding was led by Accel, with participation from Meritech Capital and existing investors Eclipse, Riot Ventures, Menlo Ventures, 645 Ventures, ACME Capital, Space VC, Champion Hill Ventures, and Narya. Stifel Bank is providing debt capital.
True Anomaly was created to develop advanced autonomous defense products for U.S. and Allied space superiority. And in the three years since its founding, True Anomaly has built and launched its Jackal spacecraft, designed and deployed Mosaic software, secured multiple government contracts, opened four offices and two production lines, raised $400 million in capital, and built a rapidly growing world-class team.
In December, True Anomaly executed its Mission X-2 campaign. It recently announced the launch of its Jackal spacecraft for development in GEO and cislunar orbits, representing critical domains within the space superiority mission set. And Jackal’s balance of performance, flexibility, and adaptability will allow True Anomaly to counter threats as fast as they can change effectively.
The Series C funding will support True Anomaly’s next phase of growth, vertical integration, facility expansion, product development, and implementation. In the next 18 months, True Anomaly will launch four missions across three different orbits, deliver new product offerings, and grow its talent pool to more than 250 employees.
Along with product advancements and milestones, True Anomaly recently expanded its leadership and advisory team by bringing on critical industry experts Stephen Kitay as SVP of Space Defense and Frank Calvelli to the Board of Directors. In February, the company opened its 90,000 ft2 Long Beach facility.
KEY QUOTES:
“The threat to our Armed Forces and way of life from adversary capabilities in, from, and through space demands the complete focus of an innovative industrial partner. We are uniquely positioned to partner with the U.S. Government and its allies to place asymmetric, viable deterrence options into the hands of warfighters on record timelines. We’re thrilled to partner with investors who share our vision and confidence in our modular, software-centric approach, and whose support accelerates our mission to deliver resilient, affordable space capabilities that keep our nation and its allies ahead of acute emerging challenges.”
Even Rogers, CEO and co-founder of True Anomaly
“True Anomaly has the right vision, products and leadership to address the critical need to defend U.S. superiority in space. Innovation in space defense is at an early stage, but True Anomaly is a clear frontrunner. Building leading capabilities in space is a difficult challenge, but we are impressed with the experience and technical expertise of the True Anomaly team. We have followed True Anomaly for some time, and we feel now is the right moment to support and accelerate their vision and product roadmap.”
Jonathan Turner, Partner at Accel
