Lonestar Data Holdings, a St. Petersburg-based space tech startup, closed an oversubscribed pre-Series A funding round of $825,000.
The company set out to raise $500,000 but was inundated with investor interest after catching attention at an exclusive investor event, according to a release. New and existing investors participated in the round, but no investor names were disclosed.
“The success of our financial round reinforces our path forward and speaks volumes of the trust and support our investors have placed in us,” Carol Goldstein, the CFO and CAO, said in a prepared statement.
Lonestar plans to use the funds to develop its technology and business strategy. The money will also support preparation for lunar missions in 2026, said Chris Stott, Lonestar’s CEO and founder.
Lonestar wants to establish commercial data storage, service and communication on the moon.
In March, the company closed an oversubscribed seed round totaling $5.2 million, when it set out to raise $5 million. Austin-based Scout Ventures led the previous funding round, with participation from Seldor Capital, 2 Future Holding, The Veteran Fund, Irongate Capital, Atypical Ventures and KittyHawk Ventures.
“Customers and investors are both keying into our market vision to provide security for Earth’s critical data from the moon,” Stott said.
Lonestar is one of 21 member companies at the Innovation District’s Maritime and Defense Technology Hub in St. Petersburg. It has 10 employees and plans to hire more as the company grows. Its founder has a 20-year resume in aerospace entrepreneurship and development. He founded an international commercial licensing organization and has worked with Lockheed Martin and other aerospace organizations.
Recently, Lonestar announced plans to travel to the moon to test its product. The test will happen in late November and will feature sending and receiving data, like a digital copy of the Declaration of Independence. If successful, the document will be officially stored on the moon.
