- Parabolic Arc
- September 21, 2023
Orbit Fab Nabs New Investor
Orbit Fab, the company that wants to put satellite refueling stations in space, has nabbed a new investor in 8090 Partners. The amount of the Series A round was not disclosed.
8090 Partners describes itself as “a private partnership of industry-leading families and entrepreneurs focused on direct and opportunistic investments.” The company’s website indicates that its portfolio includes companies developing micro-scale nuclear reactors, advanced fuels to decarbonize transportation and heavy industries, geothermal power, clean hydrogen fuel and textile waste recycling.
Orbit Fab has previously raised $17 million in nine previous funding rounds. The largest round led by Asymmetry Ventures raised $10 million in September 2021, and included Lockheed Martin and Northrop Grumman Ventures as investors.
In August 2022, Orbit Fab announced that it would provide hydrazine refueling for geosynchronous satellites in orbit for $20 million beginning in 2025.
In March 2022, Orbit Fab announced a $12 million deal to integrate the company’s RAFTI fueling port with military satellites. The U.S. Air Force and U.S. Space Force provided $6 million in funding, with private investors providing the other half.