Electronics Weekly
The new investment will be used to expand ExoSphere, its “end-to-end exploration platform” for accelerating the discovery of critical minerals. It uses 3D subsurface imaging, from space, along with AI analysis.
Such minerals are needed for a clean energy future, said the company.
The funding round was led by Teachers’ Venture Growth (TVG). Joining them were existing investors Blackbird Ventures, Hostplus, Horizons Ventures, Artesian Venture Partners, and Alumni Ventures.
“The ability to meet the rapidly increasing demand for critical minerals presents a significant challenge to achieving global net-zero targets,” said Rick Prostko, Senior Managing Director, Teachers’ Venture Growth.
“Current mineral exploration methods are inadequate for efficient discovery and production. Fleet Space addresses this with advanced 3D subsurface imaging and AI analysis tools, which have the potential to sustainably transform the industry. We are proud to support the multidisciplinary team at Fleet Space in their efforts to accelerate the global energy transition.”
The company was founded by former propulsion engineer at the European Space Agency, Flavia Tata Nardini, and aerospace entrepreneur, Matt Pearson. It combines satellites in LEO, smart seismic sensors, and AI. The output is exploration datasets for the global mining industry.
The goal is to provide targeting insights, quickly, while minimising environmental impact. Basically, imaging mineral systems in real-time.
With offices in the US, Canada, Chile, and Luxembourg, as well as Australia, it has 130 employees worldwide.
Image: Fleet Space Technologies – Co-Founders, Flavia Tata Nardini (CEO) & Matt Pearson (CXO)
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