Sensors on satellites, drones, jets and ground operations churn out massive amounts of data, and they can provide advanced insights about everything from debris drifting in space to mapping food resources on the ground.
Making sense of billions of esoteric data points isn't easy, but that's exactly what Austin-based startup Slingshot Aerospace is focused on. The company uses advanced analytics, aerial imagery and partnerships with government agencies, including the U.S. Air Force and NASA, to visualize complex data and provide real-time locational awareness of space debris and other objects.
The startup, which also has offices in El Segundo, Calif., has attracted new interest from investors, and it reported raising an $8 million Series A funding round Thursday to advance its technologies. Slingshot currently has about 30 employees, including eight in Austin. It is has made several new hires, and it plans to hire additional engineers with the new money.
The investment was led by Austin's ATX Venture Partners, with additional funding from Revolution's Rise of the Rest Seed Fund, Techstars Ventures and Okapi Venture Capital. The startup also noted the Series A includes investments from several angel investors, including former CEO of the United States Geospatial Intelligence Foundation Keith Masback, Semetric co-founders Keith Masback, Gregory Mead and Marie-Alicia Chang, and wealth advisor Glenn Degenaars.
“The funds we raise enable us to continue developing our innovative technology, bringing us one step closer to creating a safer and more sustainable world,” Slingshot co-founder and CEO David Godwin said in a news release. “By providing users with the right data, at the right time, all in one place, we are giving users the tools they need to make faster, better informed decisions so they can protect and improve our way of life.”
Slingshot has now raised a total of $17.1 million since it was founded in 2017 by Godwin and co-founders Melanie Stricklan and Thomas Ashman, two former U.S. Air Force officials. Its Austin offices are in the SXSW Center.
Slingshot has been on a roll this year. It announced it won a research grant from the U.S. Air Force to investigate how Slingshot's platform could be used as the Air Force builds a new high tech base in the Florida panhandle in the place of a former base that was heavily damaged by a hurricane in 2018.
It also launched a partnership with nonprofit 211 LA County to map out food resources, as well landing a $2 million deal to develop an immersive space simulation for Space Force in partnership with a Hollywood visualization studio.
"Slingshot Aerospace is providing government and commercial customers a high-impact return on investment through its innovative situational intelligence technologies,” Chris Shonk, co-founder and partner at ATX Venture Partners said in a statement. “There is no doubt Slingshot Aerospace will continue to experience high growth as the company has only scratched the surface in terms of customer acquisition and industry use across verticals."
