‘SERIES A’ FUNDING ROUND, LED BY PRIME MOVERS LAB, TO EXPAND SPACE TRAVEL PROGRAM
In a Series A financing round announced Thursday, commercial spaceflight company Space Perspective raised $40 million from investors, making it the first human space balloon startup to collect so much capital.
The lead investor in the round was deep-technology VC firm Prime Movers Lab.
“Prime Movers Lab’s team of engineers, subject matter experts, and advisors – who have decades of experience working for NASA, national research laboratories, and leading aerospace companies – conducted technical due diligence on Space Perspective’s team and patented SpaceBalloon technology, and we firmly believe that Space Perspective is the best-positioned company to democratize space tourism,” said Prime Movers Lab Partner and Space Perspective Board Member Anton Brevde. “It’s clear that there is massive consumer demand to explore this final frontier, and we believe Space Perspective will provide the most accessible way for travelers to experience space.”
“This is an important milestone for Space Perspective, and we are thrilled to have secured this mission-critical support from Prime Movers Lab,” said Space Perspective co-CEO and Chief Technology Officer Taber MacCallum. “Our successful, first test-flight in June, which lifted to the target altitude of 108,000 feet, signaled that all systems are ‘Go!’ for our sustainable approach to space tourism. Our brilliant engineers and safety experts have devised a fail-safe SpaceBalloon vehicle and propulsion system executed to the same exacting safety and performance standards befitting a NASA mission.”
In addition to Prime Movers Lab, Other investors include venture capital firms E2MC, SpaceFund, Kirenaga Partners, Base Ventures, 1517 Fund, and entrepreneur, author, and business strategist Tony Robbins.
New investors include LightShed Ventures, a leading consumer and media VC firm; the Explorer 1 Fund, a commercial space VC firm founded by Jet Propulsion Laboratory fellow, Leon Alkalai; and Yamauchi no.10 Family Office, launched by the founding family of Nintendo Co.
“Space Perspective represents the next frontier of the experience economy,” said Brandon Ross, GP, LightShed Ventures. “The company makes space travel accessible to people of any age, and without any special physical training. The sky’s no longer the limit!”
Anton Brevde and Brandon Simmons of Prime Movers Lab serve on the Space Perspective Board of Directors. Additional Board members include Dr. Alan Eustace, former Google Executive and world record holder for the highest flight under a SpaceBalloon, and founders Jane Poynter and Taber MacCallum. Board Observers include Brandon Ross of LightShed; while David Scalzo of Kirenaga is a company advisor.
“We are exhilarated by this significant investment by Prime Movers Lab and also deeply appreciative of new support from LightShed Ventures, the Explorer 1 Fund, and others,” Poynter said. “It’s a new day in space travel, and our investors are responding to a vocal and growing market of travelers seeking a safe portal for this ultimate journey.”
Space Perspective, founded in 2019, provides customers with a gentle six-hour ride inside a balloon capsule to the edge of space, where they can avoid the turbulence of rockets and enjoy the view of Earth longer.
The company has booked its first year of commercial flights starting in late 2024, and new customers can reserve seats on a balloon for 2025 and beyond. Each ticket costs $125,000.