SCOUT successfully completes bridge round, led by decisive point
SCOUT Inc., a space tech startup developing next-generation space traffic management and autonomous proximity operations services, announced today they have successfully closed a bridge round which will enable significant growth of their capabilities in 2022. Decisive Point, a venture capital firm that invests in dual-use technology startups, led the round with follow-on participation from the Virginia Innovation Partnership Corporation and Geospatial Alpha.
This funding round strategically positions SCOUT to better capitalize on opportunities in early 2022 and hit key milestones, including SCOUT-Vision production readiness and the launch of SCOUT’s first OVER-Sat mission in 2023. SCOUT is looking forward to connecting with more investors on the next fundraising Seed round, which opened earlier this month. SCOUT, to date, has raised $1.5 million in venture capital.
“Being a dual-use technology company, it’s important to have strategic investors that can help us better speak the language of the Defense and greater Intelligence Community, and to help us navigate the intricacies of those organizations, all of which Decisive Point has tremendous expertise in,” added Eric Ingram, Co-founder and CEO of SCOUT. “This round helps us build critical programs and infrastructure for SCOUT-Vision’s market readiness and accelerates us towards OVER-Sat’s launch scheduled for next year. Decisive Point recognizes the value SCOUT is bringing to the space and national defense segments, and the impending need for more verification and validation capabilities in orbit.”
“In recent years, we have seen incredible growth in the Space Domain Awareness (SDA) commercial and defense market. Space Traffic will only continue to become more congested (projected to grow by more than 40x by 2023) and existing ground-based sensors cannot keep up with the growing defense and commercial space population,” added Thomas Hendrix, Managing Partner of Decisive Point. “SCOUT is changing the way space operations are executed by building vision-based autonomy solutions for Earth and space, enabling systems to better identify and avoid risks and failures through their SCOUT-Vision product. SCOUT’s technology solution has already demonstrated 1000x better resolution compared to current capabilities and is poised to disrupt the SDA market.”
“Support and validation from our incredible investors have enabled SCOUT’s rapid execution over the past years,” Sergio Gallucci, Co-founder and CTO of SCOUT, stated. “In the last 9 months, we successfully demonstrated SCOUT-Vision, and this is only the start of a period of hyper-growth where we’re bringing SCOUT-Vision to the aerospace marketplace and building a strong foundation for deploying our solutions.”
Over the past year, SCOUT has made significant progress in terms of technology development and business expansion. Since June of 2021, SCOUT has been successfully operating in space, following the launch of their SCOUT-Vision proximity operation system. In December of 2021, Momentus, a leading in-space infrastructure company, selected SCOUT to deliver spacecraft vision capabilities for its upcoming missions.
Most recently, SCOUT announced its Autonomy Software for spacecraft which include computer vision and guidance software to make navigation safer and less complex for space operators. These offerings include software-hardware integration providing: next-generation AI/ML-based autonomy, hybrid data fusion from various sensors, and closed-loop optical navigation control algorithms.