Veteran Ventures Capital (VVC), a venture capital firm investing in dual-use national security technology businesses led by veteran entrepreneurs and leaders has officially announced a strategic investment in Turion Space (Turion).
In case you weren’t aware, Turion happens to be a company best known for solving two of space’s most pressing capability gaps i.e. space domain awareness and non-earth imaging, both critical to maintaining space operations and expanding in-space mobility. More on the same would reveal how the company leverages first-of-its-kind Droid micro-satellites, equipped with advanced sensors to improve space situational awareness and mitigate debris at a fraction of the cost, as compared to what is charged by its competitors.
Known as Droid.001, Turion’s Droid micro-satellites are reportedly operational, at the moment, with flight heritage, where they capture non-earth images for government and commercial clients. In essence, Droid.001 satellite is a 32-kilogram spacecraft designed to improve space situational awareness, with its data now integrated into the U.S. Space Force’s Unified Data Library.
Markedly enough, these satellites aim to accomplish over 100 imaging missions before the end of 2024.
As for how the company plans on using its newly-acquired investment from Veteran Ventures Capital, it will reportedly deploy it to expand its satellite fleet as it prepares to launch Droid.002. Droid.002 would be a larger satellite with enhanced imaging capabilities.
Beyond that, the company will invest some of the funds to facilitate further development of autonomous docking and maneuvering systems that can de-orbit defunct satellites and perform in-orbit repairs and inspections.
Talk about the specifics of VVC’s investment in Turion, it came in an oversubscribed Series A funding round, which took the company’s total venture capital till date to $20 million.
“Turion Space is developing the Google earth for space observation and situational awareness. The capabilities they are building for national security and commercial customers represent the kind of high-impact, dual-use technologies that aligns perfectly with VVC’s mission,” said Derren Burrell, Managing Partner of Veteran Ventures Capital. “Their work in advanced space domain awareness, through a specialization in non-earth imaging, addresses a growing concern for both national security and commercial operators. Their technologies have the potential to transform how we manage space safety, particularly with space becoming more of a contested warfighting domain, making this a critical addition.”
Among other things, we must mention how Turion’s technologies have gained significant traction across national security customers, including a recently awarded $15 million Strategic Financing Increase (STRATFI) program contract from the SpaceWERX, U.S. Space Force’s innovation arm.
Furthermore, it has secured a $1.9 million Tactical Funding Increase (TACFI) program contract from SpaceWERX to develop systems capable of engaging uncooperative space objects.
The company is currently developing a range of satellites that will perform critical satellite services, including the micro-Droid, set for a demonstration in 2026, which will be equipped with grapplers to capture space debris. All in all, this particular aircraft, which is co-funded by NASA, is expected to help in mitigating space debris and ensuring safe satellite operations for its customers.
Apart from that, the company plans to produce 45 satellites annually by 2027, including the upcoming launch of their Droid Alpha satellite in early 2025.
“We are excited to partner with Veteran Ventures Capital, precisely because their team and advisors have significant expertise in new space technology and the national security opportunities surrounding it,” said Ryan Westerdahl, Co-founder and CEO of Turion Space. “With their investment, we will further enhance our capabilities and provide innovative solutions for non-earth imaging, space debris removal, and satellite servicing, addressing a critical need for both government and commercial operators.”
