ATLAS Space Operations Secures $26M Series B Funding Led by Mitsui – SatNews
ATLAS space operations, provider of cloud-based space communications solutions, received $26 million in Series B funding led by Mitsui & Co., Ltd. Investment round builds confidence in ATLAS’ Ground Software as a Service™ (G-SaaS) approach as a critical solution within the space economy.
The funding round is part of the strategic initiatives of Mitsui and ATLAS. For ATLAS, this investment accelerates its international growth plan, as well as its Ground software like a service business model. It is ATLAS’s industry-disrupting software solution (Freedom™) that integrates complex disparate networks for government and commercial customers on a federated network.
For Mitsui, its investment in ATLAS further demonstrates the company’s commitment to its space portfolio. Mitsui has identified an area of interest for innovative companies that provide services to satellite operators. In 2018, Mitsui acquired a minority stake in BlackSky Global, followed by an acquisition of Spaceflight, Inc, in 2020, an American provider of satellite ride-sharing services. The investment in ATLAS strengthens Mitsui’s position in the space industry as one of its new targeted growth areas.
Sean McDaniel, co-founder and CEO of ATLASdeclared, “A strategic partnership with Mitsui validates ATLAS’ position as a global leader in satellite communications services. This investment capitalizes the company well to accelerate growth in key areas of the US commercial and government markets where our services are in high demand. With this new partnership, ATLAS can expand its team to provide enterprise-level Ground Software as a Service solutions for the DoD Hybrid Space Architectture while increasing our market share in the private sector through our high-end, low-risk services.
Kazutomi Shigeeda, General Manager of Space Affairs Department at Mitsuistated, “This investment in ATLAS expands our space business as a service provider for satellite operators. We strongly believe that ATLAS Ground Software as a Service can maximize the value of ground stations and integrate with other government and commercial ground station networks. In the future, we consider that ATLAS will be able to integrate satellite data relay networks as part of its own network, and this will lead us to the next generation satellite-to-ground communication infrastructure business. . For ATLAS to realize its vision, we will support its growth in collaboration with our space business portfolio and using Mitsui’s industrial network.
Mitsui is joined in this funding round by investments such as Beringea, as well as investments from founding investors: Boomerang Catapult, Rise of the Rest, VCaptial, Northern Michigan Angels, Harmonix, Wakestream and Grand Ventures.