Jane Edwards
Orbit Fab has received investments from Northrop Grumman, Lockheed Martin and other companies to help commercialize its on-orbit refueling systems and services.
Orbit Fab said Tuesday it raised over $10 million in its most recent funding round led by Asymmetry Ventures, alongside Lockheed’s venture arm and Northrop.
SpaceFund, Marubeni Ventures and Audacious Venture Partners participated in the funding round, which brings Orbit Fab’s total financing to $17 million.
Orbit Fab marked the launch of its on-orbit fuel depot, called Tenzing, in June. The company also developed the Rapidly Attachable Fluid Transfer Interface, a fueling port that can be used to refuel orbiting satellites.
Jeremy Schiel, co-founder of Orbit Fab, said the investment will further support the satellite servicing industry and help advance the adoption of the company’s on-orbit refueling services.
