Fleet Space Technologies Secures $100M to Expand Mineral Prospecting from Space
Fleet Space Technologies, an Australian startup, has raised $100 million in Series D funding to further develop ExoSphere, its space-based mineral prospecting platform. ExoSphere uses a network of low Earth orbit satellites and ground sensors powered by AI to provide real-time insights and drilling targets for mineral exploration. This investment significantly boosts Fleet's valuation to $525 million, more than double its previous valuation.
Key Highlights
- Series D funding round totals $100 million.
- Funding will accelerate development of ExoSphere, a real-time mineral prospecting platform.
- Technology utilizes satellites, ground sensors, and AI.
- Company valuation increased to $525 million.
The funding round was led by Teachers' Venture Growth, with participation from existing investors. This investment comes at a time when late-stage deals in the space sector have been declining, highlighting the potential of Fleet's technology. The company also plans to send a sensor to the moon in 2026 aboard a Firefly Aerospace lunar lander to gather seismic data and analyze the moon's subsurface mineral composition. For more on space exploration, see Waymo Robotaxi's Roundabout Snafu. You can also learn about advancements in AI with Google Gemini: A Comprehensive Guide. Finally, for insights into other innovative technologies, check out Xiaomi 15 Ultra: Global Launch Imminent After FCC Certification.