AstroForge mines asteroids and develops related space-mining capabilities. The company is based in Huntington Beach, Calif., and was co-founded by Matt Gialich and Jose Acain. It raised $40M in a Series A round to support its operations and development. AstroForge intends to use the new capital to expand operations and advance its development efforts. The financing increases the company’s total funding to date to $55M. Participating investors in the Series A include 776, Initialized, Caladan, YC, Uncorrelated Ventures, and Jed McCaleb. Astroforge is building in-space refining and asteroid-mining capability aimed at extracting and returning platinum-group metals. The founders say their technique requires a high-rated vacuum and zero-g and does not involve landing on target asteroids. The company is targeting relatively small bodies (20 meters to 1.5 kilometers) and plans lightweight payloads under ~200 kilograms to leverage rideshare launches. Astroforge has a partnership with OrbAstro to build its first satellite and has secured a spot on a SpaceX Falcon 9 rideshare for a demonstration flight next year. To kickstart operations it closed a $13 million seed round that the company says will fund its first two missions. The company was founded in January by Matt Gialich and Jose Acain, has four full-time employees, and is hiring for seven more roles.

Total raised

$53M

Funding rounds

2

Latest round

Series A

Latest activity

Aug 2024