Starburst Ventures has raised $200 million to fund space startups over the next three years.
The fund is an extension of the Starburst Accelerator, which was founded in 2012 to help aviation and aerospace tech startups raise seed funding, and score their first big deal with a corporate customer, typically representing $1 million or more in revenue.
Starburst Accelerator CEO and founder Francois Choppard told TechCrunch the new fund will aim to back about 35 startups over three years. It will typically write checks of $3 million to $5 million for Series A stage deals, reserving capital for larger follow on rounds as well.
Space technology is today where biotech was about 15 years ago, in terms of potential for startups to flourish, Chopard said.
More entrepreneurs and engineers are becoming interested in aerospace and aviation lately, he believes. They’re inspired by companies like SpaceX, which was selected by NASA in 2014 to participate in the U.S. Human Spaceflight Program, and initiatives like Facebook Connectivity, which aims to beam the internet to people from the sky.
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