Inversion closes $44M Series A round

Inversion Space, a startup looking to lead in logistics and delivery from above Earth’s atmosphere, has captured $44 million in Series A capital to support its development of a new autonomous re-entry vehicle and team expansion efforts.

Spark Capital and Adjacent co-led the round that also included Lockheed Martin’s venture capital arm as a participant, while Kindred Ventures and Y Combinator also were involved.

The Series A round announced Thursday brings Inversion’s total amount of investment raised since its 2021 inception to $54 million, which includes a $10 million seed round closed shortly after the company opened for business.

Inversion is designing its flagship Arc vehicle to store cargo while in-orbit and re-enter the atmosphere more quickly than other systems with the idea of being able to reach remote parts of the globe.

As Inversion sees the world, autonomous re-entry vehicles can achieve what it calls the “holy grail” of logistics that sees delivery of key items to any location within minutes.

“Space is currently used as a tool to deliver global internet connectivity and earth observation, both massive terrestrial existing markets. Inversion is introducing the third pillar – cargo delivery – transforming the $6 trillion logistics industry,” Inversion’s cofounder and chief executive Justin Fiaschetti said in a release. “We have proven our capabilities, and our Series A funding will help us iterate, scale, and build our next generation of autonomous re-entry vehicles. Transportation and logistics advancements have been transformative throughout history – think of the societal impact of ships, trains, and airplanes – and the ability to access anywhere on Earth in minutes will be just as groundbreaking.”

Under a $71 million contract booked in September, Inversion is working with Space Force’s SpaceWERX acceleration arm to test and refine the technologies and systems needed for precision delivery on-demand.

For Lockheed Martin Ventures, space technologies like those Inversion focuses on represent one of 12 focus areas for investments in startup companies.

“Inversion’s innovative approach to on-demand delivery from space has the potential to revolutionize the way goods are transported and delivered globally,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures. “We’re excited to support them in their mission to make this vision a reality, unleashing the power of autonomous spacecraft technology to unlock new opportunities for industries and communities around the world.”