Funding round will help grow the team and accelerate development of its cutting edge radiation protection technologies
ATLANTA, May 5, 2021 (Cosmic Shielding Corp. PR) — Today Cosmic Shielding Corporation (CSC), the leading space technology company for multifunctional radiation solutions, announced it has closed a $1 million pre-seed capital raise. The funding will help the company continue to grow its team and accelerate product testing of its radiation shielding composites. This will help meet the demand for high performance space computing systems, safe space tourism and exploration for humans.
The pre-seed funding round was led by SpaceFund in collaboration with WorldQuant Ventures, Helios Capital, Starbridge Venture Capital, Batshit Crazy Ventures, and Space.VC—making it the first time these leading firms have worked together to invest in the safety of private commercial space infrastructure.
As the space industry continues to grow exponentially, governments and companies need to address the long-standing issue of space radiation. Founded in August 2020 by Yanni Barghouty and Dr. Lembit Sihver, CSC will help enable a permanent presence for humans and unmanned crafts in space, by providing state of the art radiation shielding and space weather forecasting solutions.
“A space-age economy must rely on space-age technology,” said Mr. Barghouty, CEO of CSC. “The future of space travel will rely on spacecraft and spacesuits that can effectively shield humans and hardware from the risks of space radiation. By designing these with cutting edge composites built for the harsh environment of space, we can enable humanity to become a truly space faring civilization. Simultaneously, we will build a more sustainable, beneficial and safer industry, collectively.”
Dr. Sihver, CTO of CSC emphasized the importance of the extensive knowledge required to commercialize the technology, “I am delighted to see that our long, international academic experience working with space material and radiation protection, will finally be applied to the commercial space industry.”
In addition, CSC will soon be graduating from Seraphim Space Camp, the leading space technology accelerator program, which will better position the company to address the real issues facing space operators today.
Rob Desborough, CEO of Seraphim Capital’s Space Camp Accelerator, recognized the strategic value of CSC. “As a leading VC in SpaceTech and having backed multiple constellations we recognized the need for hardware resilience in a space environment. Leveraging a NASA heritage, CSC can bring significant benefits in terms of life extension and technology adoption which will significantly cut costs and improve performance of space assets.”
“The next few decades will see fundamental infrastructure being built in space that will create a platform for a thriving space economy in the near future,” said J. Brant Arseneau of 9Point8 Capital, advisor to CSC. “Infrastructure such as satellites, spacecraft, computing and human habitats will require protection from the extreme conditions of space and we believe CSC is uniquely positioned to provide this capability and partner with many companies in this new economy.”
About Cosmic Shielding Corporation (CSC)
CSC’s state of the art shielding technologies will enable the use of high performance electronics in orbit and safe travel for astronauts pioneering a long-term human presence on the moon and beyond. Founded by world leading scientists from NASA and ESA, with 90 years of combined experience tackling the space radiation challenge, the company aims to build a future where humans can live and work safely in space, as we do on earth today. More information about CSC can be found at www.cosmicshielding.com.