Michael Smayda Co-Founded Fortastra Raises $30M in Series Funding

Fortastra, a Torrance, CA-based developer of maneuverable spacecraft for on-orbit security and national defense, has raised $30 million in a Series A funding round led by First In.

The round also saw participation from Upfront Ventures, Space Capital, Rsquared, Side Door Ventures, ATX Ventures, and others.

The company plans to use the funding to advance its on-orbit security platforms, expand its engineering and operations team, and strengthen its autonomy and manufacturing capabilities.

What is Fortastra?

Fortastra develops maneuverable spacecraft designed to protect critical assets in space. Its spacecraft can position themselves near important space infrastructure, monitor surrounding activity, and respond to potential threats.

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The company aims to provide persistent security coverage across multiple orbits by combining spacecraft autonomy with high rate manufacturing. It's approach is designed to support the growing security needs of government, and commercial space operators.

Fortastra is also developing a modular spacecraft bus designed for efficient, high-volume production.

How Much Funding Has Fortastra Raised?

Fortastra has raised $30 million in its latest Series A funding round.

The round was led by First In, with participation from Upfront Ventures, Space Capital, Rsquared, Side Door Ventures, ATX Ventures, and other investors.

The source does not provide details about previous funding amounts or the company's total funding to date.

Who Invested in Fortastra’s Series A?

The $30 million Series A round was led by First In.

Other participating investors include:

• Upfront Ventures
• Space Capital
• Rsquared
• Side Door Ventures
• ATX Ventures
• Other investors

Why the Funding Matters

Fortastra will use the new funding to accelerate the development and commissioning of its on-orbit security platforms.

The company also plans to expand its engineering and operations team and continue developing its autonomy systems and manufacturing capabilities.

These investments are intended to support higher-rate spacecraft production and the deployment of security platforms for government and commercial customers.

Who founded Fortastra?

Fortastra was founded by Michael Smayda and is headquartered in Torrance, California.

The company combines spacecraft engineering, manufacturing, and autonomous technology to develop systems for protecting critical space infrastructure.

"We went from seed funding to on-orbit in about a year, and that pace is a direct result of the people in this building," said Mike Smayda, Founder and CEO of Fortastra. "Members of the core team have all built and flown difficult projects before and came here because protecting assets in orbit is a critical problem that needs solutions.

"Never before have public and private US space assets been more critical to the functioning of everyday life, but also more vulnerable to disruption by a variety of adversaries," said Arthur Karell, General Partner at First In. "The Fortastra team is rapidly solving that gap by producing high-performance, low-cost space defenses.

Market and Business Growth

Fortastra is targeting demand for on-orbit security as national security and commercial space assets continue to expand.

The company has achieved its seed-stage milestones and secured initial government contracts. It is now expanding its engineering team, with a focus on flight software, guidance, navigation and control (GNC), and autonomy.

Fortastra is also expanding its manufacturing infrastructure to support a modular spacecraft design built for higher production volumes.

What Happens Next?

Fortastra plans to continue developing and commissioning its on-orbit security platforms while expanding its engineering and operations teams.

The company will also strengthen its autonomy and manufacturing capabilities to support higher-rate production and broader deployment of its spacecraft.

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