Adelaide, Australia – Fleet Space Technologies, a leader in space exploration and mineral discovery, has announced the successful closure of a $100 million Series D funding round. This round was led by Teachers’ Venture Growth (TVG), the venture investment arm of Ontario Teachers’ Pension Plan, alongside existing investors including Blackbird Ventures, Hostplus, Horizons Ventures, Artesian Venture Partners, and Alumni Ventures.
The funding will accelerate the development of Fleet Space’s groundbreaking exploration platform, ExoSphere, designed to discover critical minerals essential for a clean energy future.
Transforming Critical Mineral Exploration
Fleet Space’s ExoSphere integrates cutting-edge space technology, advanced seismic sensors, and AI-powered analysis to deliver real-time 3D imaging of subsurface environments. This innovation significantly enhances the efficiency and sustainability of mineral exploration, meeting the growing demand for materials crucial to achieving global net-zero targets.
Rick Prostko, Senior Managing Director at TVG, remarked:
“The discovery of critical minerals must scale rapidly to meet global clean energy goals. Fleet Space’s advanced tools, such as 3D subsurface imaging and AI analysis, present a transformative solution to this challenge. We’re proud to support Fleet Space as they drive the global energy transition.”
Empowering a Clean Energy Future
Fleet Space’s Co-Founder and CEO, Flavia Tata Nardini, emphasized the platform’s role in addressing pressing challenges:
“ExoSphere combines space, AI, and big data technologies into a seamless solution for modern mining operations. This innovation is essential to discover energy transition minerals at a scale that minimizes environmental impact while maximizing exploration efficiency.”
Achievements and Global Expansion
Fleet Space has experienced exponential growth over the past year, including:
- Global Reach: Expanding operations to the US, Canada, Chile, and Luxembourg, with a workforce of over 130 employees supporting deployments across five continents.
- Industry Adoption: Collaborating with leaders like Rio Tinto and Barrick Gold, conducting record-breaking 3D imaging surveys in Australia’s Macquarie Arc and Chile’s Atacama region.
- Technological Breakthroughs: Launching ExoSphere Discovery, a proprietary AI-powered exploration system that predicts mineral-rich zones, redefining mineral exploration practices worldwide.
Pioneering Off-World Exploration
Fleet Space’s innovations extend beyond Earth, laying the groundwork for extraterrestrial exploration. The SPIDER system, a variant of ExoSphere, is set to be deployed on the Moon in 2026 to map the lunar subsurface. Collaborating with MIT Media Lab’s Space Exploration Initiative, Fleet Space is also contributing to research aimed at future missions to Mars and beyond.
Matt Pearson, Chief Exploration Officer, highlighted the broader implications:
“Our advancements in subsurface exploration on Earth directly enhance the technologies needed for off-world exploration. Fleet Space is poised to play a pivotal role as humanity ventures deeper into the solar system.”
Strategic Vision and Future Roadmap
Fleet Space continues to advance its mission to revolutionize mineral exploration and space research. The Series D funding signals strong investor confidence in the company’s ability to address dual challenges—climate change and critical mineral discovery.
Federico Tata Nardini, CFO & CIO of Fleet Space, stated:
“This funding reinforces our leadership in creating innovative solutions for Earth’s clean energy future and space exploration. We’re excited to scale our vision and technologies to the next level.”
Note: We are also on WhatsApp, LinkedIn, and YouTube, to get the latest news updates, Join our Channels. WhatsApp– Click here, and for LinkedIn– Click Here