Fleet Space Technologies, Australia’s pioneering space exploration company, has announced the closure of a $150 million Series D funding round, propelling its valuation to over $800 million.
The investment will advance Fleet Space’s ExoSphere platform, which integrates low-Earth orbit (LEO) satellites, AI, and smart seismic sensors to revolutionize the discovery of critical minerals essential for achieving global manugoals.
The funding, led by Teachers’ Venture Growth (TVG), also saw participation from prominent investors including 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 at TVG.
“Fleet Space addresses this with advanced 3D subsurface imaging and AI analysis tools, which have the potential to sustainably transform the industry.”
Founded by Flavia Tata Nardini and Matt Pearson, Fleet Space has gained recognition for its innovative approach to exploration.
ExoSphere, the company’s flagship technology, delivers real-time 3D imaging for mineral exploration.
“There are two versions of the future,” said CEO and Co-Founder Flavia Tata Nardini. “One where we bend the latest advances in space, AI, and big data towards building a clean energy future, and another where we risk net-zero targets falling out of reach.
“With ExoSphere, we’ve created an end-to-end platform to accelerate critical mineral discovery while minimizing environmental impact.”
The company said it has grown in the past year, deploying ExoSphere in collaboration with major players like Rio Tinto and Barrick Gold.
Its recent projects include conducting the world’s largest real-time 3D imaging survey in Australia’s Macquarie Arc and the highest imaging survey in Chile’s Atacama region.
“This funding is not just a testament to Fleet Space’s growth, strong investor confidence, and sustained innovation in core technologies needed to address dual challenges of climate change and mineral exploration,” said Federico Tata Nardini, CFO and CIO of Fleet Space.
“It’s a signal that in a period of turbulent macroeconomic conditions, the shared commitment to build technologies needed for Earth’s clean energy future combined with solid business execution can attract the right partners.”
