Fleet Space Technologies Raises $100M Series D Funding for Space Mineral Prospecting Platform

Fleet Space Technologies, an Adelaide-based startup, has secured $100 million in Series D funding to advance the development of ExoSphere, a platform for real-time mineral prospecting from space. The company, currently operating two satellites in low Earth orbit, aims to use artificial intelligence to analyze data from ground sensors and satellites, providing predictive insights and drill targeting for prospectors.

 Additionally, Fleet plans to send a sensor to the moon aboard Firefly Aerospace's lunar lander in 2026, with the goal of capturing seismic data to enhance understanding of the moon's subsurface and mineral properties.

The latest funding round, led by Teachers’ Venture Growth (TVG) and joined by existing investors like Blackbird Ventures and Hostplus, values Fleet at $525 million, marking a significant increase from its Series C valuation. This investment will facilitate the company's expansion and technological advancements in the space mineral prospecting sector.