Participated · Equity · Aug 2025

SpinLaunch builds space-access and satellite communications technologies and in 2025 introduced Meridian Space, a platform aimed at lowering the cost and complexity of deploying satellite infrastructure. The company says Meridian Space is a highly differentiated low-earth orbit (LEO) satellite broadband constellation designed for ultra-low capex. SpinLaunch has completed full-scale testing of a proprietary multi-band reflectarray antenna that enables the constellation’s ultra-low capex design. Founded in 2014 and led by CEO Massimiliano Ladovaz, the company is pursuing commercialization of Meridian Space. It raised $30M in new funding to accelerate development and commercialization of the platform. SpinLaunch positions its technology as a new approach to launch and satellite connectivity. SpinLaunch is developing a kinetic launch system that spins payloads inside a vacuum chamber to very high Gs and flings them toward orbit as a lower-cost, high-cadence alternative to rockets. The company claims its system can place up to 200 kg into orbit for about $250,000 and eventually support 5–10 launches per day. SpinLaunch has conducted ten suborbital tests with a smaller accelerator at New Mexico’s Spaceport America, where it holds a long-term lease. It has also pursued satellite-constellation ambitions via a subsidiary, SN Space Systems, filing with the FCC for a 1,190-satellite constellation and meeting with FCC personnel. Leadership has shifted recently: two new board members were added last October, Dómhnal Slattery was named chairman, and David Wrenn was appointed CEO in March, replacing founder Jonathan Yaney. CEO David Wrenn said the company has met its investment and revenue objectives this year and that new financing will help accelerate commercialization of its space technologies. SpinLaunch builds a ground-based, electric-powered mass accelerator launch system designed to place small satellites into low Earth orbit with low cost and high cadence. The technology reportedly eliminates up to 70% of the fuel and structures typical of conventional rockets, substantially reducing the carbon footprint of deploying LEO constellations. SpinLaunch has also developed a line of small satellite buses to complement its launch approach and address upcoming constellation needs. The company has conducted a series of flight tests on its Suborbital Accelerator at Spaceport America. Founded in 2014 and headquartered in Long Beach, California, SpinLaunch aims to scale commercial and national-security access to space through partnerships and commercialization initiatives. The company is supported by investors and partners including Kleiner Perkins, GV, Airbus Ventures, and ATW Partners. SpinLaunch develops a kinetic launch system that uses a rotating arm inside a vacuum chamber to accelerate an aerodynamic launch vehicle to roughly 5,000 MPH and fling it toward space. The company has conducted nine successful flight tests with a 33-meter “suborbital mass accelerator,” sending payloads north of 1,000 MPH to nearly 30,000 feet. It has an agreement with NASA for further testing and has conducted tests at Spaceport America in New Mexico while finalizing selection of its first orbital launch site. SpinLaunch plans a full-size orbital launch system three times the size of the suborbital accelerator and aims to place satellites into orbit by 2026. The company is also developing a mass-manufactured line of G‑hardened satellite products designed to survive the high G‑forces of its launch method. Financially, the company announced a $71M round (equity and debt) that brings total funding to $150M. SpinLaunch is developing a kinetic launch system that uses a rotational acceleration method to propel payloads to escape velocity without rockets. The company has not yet demonstrated the technology publicly and remains secretive about technical details. Funds will be used to build a new headquarters and R&D facility in Long Beach and to complete a flight test mass accelerator at Spaceport America in New Mexico. Leadership says the first flight tests at Spaceport America are planned for later this year, and the company targets its first commercial launch in 2022. SpinLaunch aims to offer orbital access for under $500,000 per launch if tests succeed. To date the company has raised prior rounds of $35M (reported in 2018) and $10M, and the latest financing brings total funding to $80M.

Participated · Series B · Sep 2022

eSmart Systems provides AI-based inspection and maintenance solutions for critical energy infrastructure, serving electric utilities and grid operators. The company offers the Grid Vision® portfolio for inspection management and asset information management, using AI, machine learning, and data analytics. Grid Vision enables a data-driven, condition-based approach to infrastructure inspections. eSmart Systems positions its products and services for global utility customers. The company recently raised €30 million and plans to use the funds to accelerate growth. Founded in 2012 and headquartered in Oslo, the business focuses on improving inspection and maintenance workflows for grid operators. eSmart Systems is a Norway-based firm that develops AI-driven inspection and asset-management solutions for utilities. Its core product, Grid Vision, provides inspection management and asset information management with a data-driven, condition-based approach to cut costs, improve safety, improve asset data quality, and extend asset life. The company has more than 20 years in the field and serves global customers, including Naturgy, Xcel Energy, and E.ON. Earlier this year eSmart acquired Stavanger-based Verico, an Enterprise Asset Management company, to strengthen its international presence and expand its platform. The company says the newly raised funds will accelerate commercial development and international growth. Management highlights investor strategic support and the company’s positioning to help grid operators address energy security challenges and increased infrastructure vulnerability from extreme weather. eSmart Systems, based in Halden, Norway, builds AI-powered software for inspections of powerlines, grid maintenance planning, and energy flexibility optimization. The company is led by CEO and founder Knut Johansen and delivers solutions that oversee electricity operations for 48 customers in seven countries, including Norway, Denmark, the United Kingdom, and the U.S. eSmart intends to use the recent funding to expand internationally across American and European markets. The firm is a Microsoft Partner, and its CTO, Erik Aasberg, has been appointed a Microsoft Regional Director. The product set focuses on asset health monitoring and analytics to support grid operators and utilities. eSmart Systems offers a Microsoft Azure–based scalable software platform that processes, analyzes and visualizes large amounts of data in real time to optimize operation and performance of applications. The platform is aimed at the digital energy industry and smart cities. The company serves customers in Norway, Europe and the United States. It is led by founder and CEO Knut H. H. Johansen. In 2015 the company reported a turnover of NOK 40m. Following the investment by Kongsberg Digital, eSmart entered into a partnership to deliver digital development and services for advanced analytics and machine learning to power-sector customers.