Orbit Fab
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Aerospace primes Northrop, Lockheed join in Orbit Fab’s over $10M funding round
San Francisco-based startup Orbit Fab wants to be the go-to source for orbital refueling, and now it has raised over $10 million in its quest to get there. The money will go toward funding a refueling trial that’s due to launch as early as the end of 2022, in which the company plans to send to space two refueling shuttles that will repeatedly perform a three-step dock, transfer fuel and undock process.
The round was led by Asymmetry Ventures, with participation from existing investor SpaceFund and new investors Marubeni Ventures and Audacious Venture Partners. Notably, both Northrop Grumman Corporation and Lockheed Martin Ventures also participated, the first time the two contractor-rivals have done an investment together, Orbit Fab co-founder Jeremy Schiel told TechCrunch.
“We are the tide that raises all boats,” Schiel said. “We don’t give either a competitive edge, but we can as a whole have better alternatives for sustainability in space.”
“Getting [the two primes] to play nice with each other,” as he put it, is key for the company, which wants to position itself as the favored source for space refueling. Orbit Fab, which was a finalist in our TechCrunch Disrupt Battlefield in 2019, has developed a refueling valve it calls RAFTI (Rapid Attachable Fluid Transfer Interface) — but this component must be installed before spacecraft leave Earth, which means that much of the buy-in from major customers like the aerospace contractors must occur before their satellites even enter orbit.
The idea is that spacecraft outfitted with RAFTI would be able to dock with one of Orbit Fab’s refueling shuttles, which would be positioned in low Earth orbit, geostationary orbit and eventually even cis-lunar space. By 2025, Schiel said he hopes every spacecraft will have a RAFTI on it. In the long-term, the company is thinking even bigger: producing fuel in-space, using material mined from asteroids.
“We want to be the Dow Chemical of space,” Schiel said. “We want to be the first customers for lunar miners, asteroid miners, buying up their material that they mined off those bodies, and then convert that to usable propellants that we can produce in-orbit.”
Orbit Fab says orbital refueling will be the bedrock of the burgeoning new space economy, in which goods and spacecraft will need to be transferred from one orbit to another (a maneuver that’s extremely fuel-intensive), or to build out supply chains to return resources to Earth.
“We want to be that supply chain of propellant,” Schiel added.
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Benchmark Space Systems and Starfish Space team up to advance orbital docking and refueling
Humans may not have totally mastered getting objects to space, but we’ve done a pretty good job so far. The hundreds of satellites that orbit the Earth are proof enough that “send stuff to space” is firmly in humanity’s capacity. But what about refueling, repairing or even adding capabilities to spacecraft or satellites once they’re up there?
In the past few years, a host of companies have started to turn what has long been seen as a pipe dream into a real possibility. Now, satellite servicing company Starfish Space and space mobility provider Benchmark Space Systems will be entering into a new partnership aimed at advancing these much-needed capabilities — and their first demonstration will take place next month, on space startup Orbit Fab’s Tanker 1 mission.
Orbit Fab, which was a finalist in our TechCrunch Disrupt Battlefield in 2019, will be sending up an operational fuel depot on a SpaceX Falcon 9 in June. The tanker is the first of what Orbit Fab is envisioning as a “gas station in space” — in-orbit propellant available to satellite customers that will no longer be limited in terms of their spacecraft’s active life by the amount of fuel they take up on launch.
Benchmark Space Systems and Orbit Fab already have an agreement to combine Benchmark’s Halcyon thruster system and the fuel depot startup’s fluid transfer interface (imagine a refueling apparatus) into an integrated propulsion package.
This is where Starfish Space comes in. It will be testing its CEPHALOPOD rendezvous proximity operations and docking (RPOD) software with Benchmark’s Halcyon thruster system to make sure that the refueling demonstration is as accurate as possible. The RPOD software is entirely autonomous and can give small servicing vehicles up to eight times more maneuvering capability, the company says.
Demonstration missions like the one in June are just the beginning. Refueling capacity could not only extend the mission length of satellites and other spacecraft, it could help open the door to new types of space missions and the emerging space economy.
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Despite economic downturn, space startup funding defies gravity
The COVID-19 pandemic might have upended the global economy, but according to Meagan Crawford at Spacefund and Chris Moran with Lockheed Martin Ventures, it didn’t dampen investment in space startups.
The space industry has enjoyed a honeymoon period with hundreds of startups popping up in the past five to seven years following SpaceX’s success.
Spacefund research conducted earlier this year found that there is almost no correlation between the global economy and the space industry, said Crawford, a managing partner at the VC firm, last Thursday at TC Sessions: Space 2020. Crawford and Moran both agreed that interest and investment in space will increase as more startups have successful exits.
“We looked back historically over the last decade and a little bit more, and it turns out that even during the 2008-2009 economic downturn, the space industry continued to grow at 7% per year,” Crawford said, adding that they saw almost no correlation between the performance of the Global S&P 1200 and the space industry.
“I think a lot of this has to do with a big portion of the industry coming from government budgets, which provides a lot of stability even in economically rough times, as well as the industry being in such high demand and going through such a high-growth phase right now that even the pandemic couldn’t really slow it down,” she said.
Early-stage investments did suffer at the beginning of the year, Moran noted after the event, but added that it appeared to be temporary.
“Firms were circling the wagons on their portfolios, in-person incubator programs went on hiatus, so there were fewer early-stage companies out there and less money for those companies,” he said, adding that Pitchbook data confirmed LMVC’s suspicions and showed a 25% to 27% drop in new company formation over that time.
Since September, LMVC has seen a spike in new companies. Meanwhile, incubators and accelerators have adapted to COVID-19 restrictions, Zoom made face-to-face meetings easy and life “as usual” started back up again, Moran added.
Exits are driving investments
The space industry has enjoyed a honeymoon period with hundreds of startups popping up in the past five to seven years following SpaceX’s success. Moran said this unabashed growth period will continue for a few years before narrowing.
“So like any any industry in VC, you see a lot of people jump in and then as business models collide and the need to generate some sustainable business happens there’s a lot of winnowing and narrowing of the field,” Moran said. “We’re probably still in that growth period, but I imagine over the next few years, we’ll start seeing this winnowing and really focus on the folks who have a technology and a business model that will be successful long term.”
Right now, the entire industry is funded on private capital, said Moran, who predicted investing is going to grow for some time as long as people see the excitement and promise of the industry. He added that easy access to public markets — notably the rise in mergers with special purpose acquisition companies — could drive even more money into space.
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Pioneers of in-space refueling and manufacturing join TC Sessions: Space 2020
One of the problems with putting a satellite in orbit is that once you do, it’s pretty much out of your hands. If anything goes wrong, or it runs out of fuel, that’s all she wrote. Fortunately there are companies that aim to change this, and three leaders in the field — Orbit Fab, Astroscale and Maxar — will be joining us at TC Sessions: Space in December.
Also at TC Sessions: Space
You may remember Orbit Fab from Disrupt’s Startup Battlefield around this time last year. CEO and co-founder Daniel Faber debuted its refueling interface, RAFTI, and showed how that and a network of “tanker” satellites could save companies hundreds of millions by keeping their spacecraft in orbit rather than sending up replacements.
Astroscale is embarking on a similar effort for satellites in geosynchronous orbits, which are even more expensive to replace. But the Japan-based company is also aiming at taking down the innumerable dead satellites and debris scattered throughout other orbits, and has raised huge sums to do so. Astroscale’s U.S. president, Ron Lopez, will join the panel to discuss the many potential approaches to improving sustainability in space.
Maxar is of course a well-known name in space operations, and we’ve had head of space robotics Lucy Condrakchian onstage at TC Sessions: Robotics. Her team is currently working on the ambitious Restore-L mission, which will demonstrate on-orbit refueling, manufacturing and assembly. Why build it down here if you can do it up there?
These three panelists will discuss the possibilities of this emerging industry and what it could mean for startups and established enterprises here on the ground. With costs of launch dropping, the cost of building and maintaining a major satellite becomes a greater issue — but tiny, cheap satellites are also beginning to proliferate.
How will the market evolve? Can proprietary but practical tech like RAFTI make a difference? How close are we to the first satellite built entirely in space? All this and more will be on the table for our panel next month.
Get an early-bird ticket for just $125 until this Friday, November 13. And we have discounts available for groups, students, active military/government employees and for early-stage space startup founders who want to pitch and give their startup some extra visibility.
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Join us Wednesday, September 9 to watch Techstars Starburst Space Accelerator demo day live
The 2020 class of Techstars Starburst Space Accelerator is graduating with an official demo day on Wednesday at 10 a.m. PDT (1 p.m. EDT), and you can watch all the teams present their startups live via the stream above. This year’s class includes 10 companies building innovative new solutions to challenges either directly or indirectly related to commercial space.
Techstars Starburst is a program with a lot of heavyweight backing from both private industry and public agencies, including from NASA’s JPL, the U.S. Air Force, Lockheed Martin, Maxar Technologies, SAIC, Israel Aerospace Industries North America and The Aerospace Corporation. The program, led by managing director Matt Kozlov, is usually based locally in LA, where much of the space industry has significant presence, but this year the demo day is going online due to the ongoing COVID-19 situation.
Few, if any, programs out there can claim such a broad representation of big-name partners from across commercial, military and general civil space in terms of stakeholders, which is the main reason it manages to attract a range of interesting startups. This is the second class of graduating startups from the Starburst Space Accelerator; last year’s batch included some exceptional standouts like in-orbit refueling company Orbit Fab (also a TechCrunch Battlefield participant), imaging microsatellite company Pixxel and satellite propulsion company Morpheus.
As for this year’s class, you can check out a full list of all 10 participating companies below. The demo day presentations begin tomorrow, September 9 at 10 a.m. PDT/1 p.m. PDT, so you can check back in here then to watch live as they provide more details about what it is they do.
A synthetic data API that allows AI teams to generate their own custom datasets up to 99% faster — no tedious collection, curation or labelling required.
founders@bifrost.ai
A virtual reality content management system that makes it super easy for curriculum designers to create and deploy immersive learning experiences.
founders@holos.io
Infinite Composites Technologies
The most efficient gas storage systems in the universe.
founders@infinitecomposites.com
Lux is developing next generation System-on-Foil electronics.
founders@luxsemiconductors.com
Natural Intelligence Systems, Inc.
Developer of next-generation pattern-based AI/ML systems.
leadership@naturalintelligence.ai
Engineering collaboration software for teams building challenging deep tech projects.
founders@prewittridge.com
Providing satellite radar-based intelligence for decision makers.
founders@satim.pl
Developing stratospheric microballoons to capture the freshest, high-res earth observation data.
founders@urbansky.space
Real-time remote robotic controls.
founders@vrotors.com
Proactive air insights.
founders@weavair.com
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Orbit Fab raises $3M to make orbital refueling easier, cheaper and more accessible
Orbit Fab, one of the companies competing in this year’s TechCrunch Disrupt Battlefield in San Francisco this week, has closed a seed round of $3 million. The funding comes from Type 1 Ventures, TechStars and others, and will help Orbit Fab continue to build on the great momentum it has already bootstrapped with its space-based robotic refueling technology.
You might remember the name Orbit Fab from a milestone accomplishment the young company achieved earlier this year: Becoming the first startup to supply water to the International Space Station, itself an achievement but also a key demonstration of the viability of its technology for use in orbital satellite refueling. Refueling satellites could have tremendous impact on the commercial satellite business, extending the operating life of expensive satellites considerably, which translates to better margins and more profitable businesses.
Thanks to co-founders Daniel Faber and Jeremy Schiel’s connections in the space industry, from more than 15 years working in space technology businesses in a leadership capacity, the company was able to demonstrate its technology working in space less than a year after Orbit Fab was actually founded. Faber, Orbit Fab’s CEO, and Schiel, the startup’s CMO, met when both were working at Deep Space Industries – Faber as CEO and Schiel as a contractor.
Orbit Fab’s first space payload, the ISS water resupply robot.
“We ended up reconnecting later on and really looking at a few different business models on how to push the industry forward,” Schiel said in an interview. “The one that really landed with customers, and the one that resonated with the industry was refueling satellites. Elon [Musk] has been making rockets reusable – we thought it’s time that we make satellites reusable as well.”
Starting from this realization, the pair founded the company in January 2018. They then secured their first round of pre-seed investment from Bolt in San Francisco in June that year, and also landed two contracts – including one with NASA, and one with the International Space Station National Laboratory.
“Basically in four-and-a-half months, we got flight-qualified and human-rated from NASA our two tanker test beds that we flew to the International Space Station in December 2018, and March of 2019,” Shield said.
How did they do it with that speed? Faber credits their rapid progress largely to lead engineer James Bultitude, an accomplished space engineer with five payloads on the International Space Station already.
“He took [the project] from a napkin through to flight hardware in four-and-a-half months,” Faber said. “All qualified to NASA human-rated safety standards, which was quite the feat. We really had to push hard on NASA.”
Faber said that the company’s ability to spur the U.S. space agency into action has been a key driver of its success. In fact, he relayed a story in which their National Lab demonstration payload was actually left off of its intended flight, but the team was able to get its cargo approved by top NASA decision-makers over the course of a weekend and just barely made the cut as a result.
As for working with NASA as a startup, Faber said that it’s become a very different affair, with the agency eager and adapting to working more with younger companies and startups bringing a different pace of innovation to the field.
“The change is almost palpable on the phone with NASA – you can almost hear them changing,” he said.
At Disrupt, Orbit Fab demonstrated their robotic connector for refueling on stage for the first time. The idea is that satellite makers will build their standard nozzles into their designs, and then a robotic refueler will be able to seek out the nozzle, open and then close on to the coupler, forming a solid connection to allow propellant transfer.
Already, Orbit Fab is talking to partners, including Northrop Grumman, and it’s a member of the Consortium for Execution of Rendezvous and Servicing Operations (CONFERS), an industry group that aims to make robotic service and maintenance of satellites a viable reality.
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Orbit Fab becomes first startup to supply water to ISS, paving the way for satellite refueling
Not even two years into its existence, orbital fuel supply startup Orbit Fab has chalked up a big win — successfully supplying the International Space Station with water, a first for any private company. It’s a big deal, because providing water to the ISS involved a multi-day refueling process, done in microgravity, using processes and equipment Orbit Fab developed itself.
The key ingredient here, per ISS U.S. National Laboratory COO Kenneth Shields, which was the contracting agency for Orbit Fab’s refueling test, is that this method of resupply is totally out of spec in terms of how this process was designed to work on the ISS. By creating and successfully demonstrating a system that the ISS designers never conceived, Orbit Fab has shown that both private companies and NASA have the flexibility needed to build business models on existing space infrastructure.
The technology Orbit Fab developed and demonstrated has broader applications than just moving water around in space. Water was used in this example specifically because it’s one of the most inert propellants used in spaceflight thrusters, but the methods could extend to other common propellants, and make it possible to refuel satellites in orbit. Orbit Fab is working toward establishing standards for satellite refueling interfaces to be used in orbital hardware, which could go a long way toward making it common practice to develop reusable satellites, instead of sticking with the more or less disposable hardware model used today.
Startups like Orbit Fab are the key to unlocking true commercialization of space, by identifying points in the value chain where innovation or improvement can lead to cost or resource efficiencies and ensure that space business is actually also viable business, in terms of profit potential.
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