Star Catcher closes $65M Series A round for space grid strategy

Star Catcher, a startup pushing to develop a power grid in space, has fetched $65 million in Series A capital ahead of an initial demonstration of optical power beaming technology planned for later this year.

Founded less than two years ago, Star Catcher is also working toward a second orbital mission as part of its goal to build out technology that delivers on-demand electricity to satellites and other spacecraft.

Optical power beaming refers to the technique of wirelessly transferring electricity over long distances by using laser light, which converts back into electricity at a receiver.

B Capital, Cerberus Capital Management’s venture arm and Shield Capital co-led the round announced Tuesday. GreatPoint Ventures, Helena, Oceans Ventures and MVP Ventures also participated in the round.

“This investment underscores the conviction that orbital infrastructure is now as fundamental as terrestrial infrastructure,” Andrew Rush, co-founder and CEO of Star Catcher, said in a release. “Every major application driving the space economy — connectivity, computing, security, sensing — is power-limited today.”

Star Catcher is also adding three new members to its board of directors as part of the Series A round:

• John “Jay” Raymond, the retired Space Force chief and now senior managing director at Cerberus
• Jeff Johnson, a general partner and global head of energy at B Capital
• David Rothzeid, a principal at Shield Capital

Star Catcher is also using the investment to pursue what it calls “deeper engagement with U.S. national security customers,” in addition to continued commercial expansion efforts.

The company’s portfolio includes seven power purchase agreements and a $1.25 million Small Business Innovation Research Phase II contract with the Air Force’s AFWERX acceleration arm.