MP Space raises $23 million for spacecraft power systems
Former Tesla engineers' startup secures $23M seed funding to scale advanced power systems for spacecraft.
Australian satellite-power startup MP Space has raised $23 million in seed funding to expand manufacturing and grow its engineering team. The company, founded by ex-Tesla engineers Jay Manley and Sam Paterson in early 2024, develops hardware and software that manages power systems in orbit.
MP Space's technology has already been selected for more than 500 spacecraft, with the first hardware launching to space earlier this month. As spacecraft become more capable, they need more power.
MP Space brings battery management techniques from electric vehicles and grid storage into space, designed for reliable manufacturing at scale. The round was led by Blackbird and backed by Systemiq Capital, Speedinvest and MFV Partners.
Seraphim Space made its first Australian investment in the deal.
- NZ$23 million
- Seed funding raised
- Early 2024
- Founded
- More than 500
- Spacecraft selected
- Jay Manley and Sam Paterson
- Founders
Why it mattersBetter spacecraft power systems unlock more ambitious space missions and create a new market for Australian technology exports.
AustraliaMP Space is based in NSW at the Defence and Aerospace Hub, creating skilled jobs in Australia's growing space sector.
Open this story in InSnip →
