Fleet Space Closes USD$100M Series D with USD$525M Valuation [Globe and Mail, The (Toronto, Canada)]
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Source: Globe and Mail, The
Dec. 11, 2024 /CNW/ -- Fleet Space Technologies (Fleet Space), Australia's leading space exploration company, today announced the closing of a USD$100M Series D funding round, led by Teachers' Venture Growth (TVG), the late-stage venture and growth investment arm of Ontario Teachers' Pension Plan, and joined by existing investors Blackbird Ventures, Hostplus, Horizons Ventures, Artesian Venture Partners, and Alumni Ventures. The new investment will be used to expand the capabilities of Fleet Space's global end-to-end exploration platform, ExoSphere, to accelerate the discovery of critical minerals needed for Earth's clean energy future. "The ability to meet the rapidly increasing demand for critical minerals presents a significant challenge to achieving global net-zero targets," said Rick Prostko , Senior Managing Director, Teachers' Venture Growth. "Current mineral exploration methods are inadequate for efficient discovery and production. Fleet Space addresses this with advanced 3
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