MP Space Raises USD $16 Million to Scale Spacecraft Power Generation Systems

Australian space technology startup MP Space has raised A$23 million (approx. US$16 million) in a seed funding round led by Blackbird to expand manufacturing and develop power systems for the global space industry.

The round also included Seraphim Space, Systemiq Capital, Speedinvest and MFV Partners. The investment marks Seraphim Space’s first investment in an Australian company.

Founded in January 2024 by former Tesla engineers Jay Manley and Sam Paterson, MP Space develops hardware and software for spacecraft power generation, energy storage and power management.

The company says its technology has been designed into systems covering more than 500 spacecraft, with its hardware already operating in orbit on multiple spacecraft.

MP Space is adapting power electronics, software and energy storage technologies used in electric vehicles and grid-scale energy systems for satellite applications.

The new funding will support expanded manufacturing capacity in Australia, a broader portfolio of power-system platforms and additional engineering hires.

Over the next 12 months, the company plans to scale production and deliver systems for new spacecraft and constellations.

MP Space operates from Cicada Innovations’ Defence and Aerospace Hub in New South Wales, which supports companies developing advanced technologies.

Blackbird partner Samantha Wong cited the founders’ experience developing battery systems at Tesla as a key factor behind the investment, highlighting their work on the company’s Powerwall energy storage business.

Image credits: MP Space