NorthStar Earth & Space Inc. has closed a CA$20 million Series D funding round with investments from Telesystem Space Inc., the government of Quebec (through its affiliate Investissement Québec), and the Luxembourg Future Fund – Co-Investments SA.
Funds will support the company’s on-going operations to deploy the initial block of four satellites of NorthStar’s constellation to monitor space from space, commence commercial Space Situational Awareness (SSA) services, and establish a data processing centre in Montreal that will process and deliver precision information to help track the location of satellites (over 11,000) and orbital debris (over 128 million).NorthStar is the first in the world to operate a satellite constellation dedicated to addressing the rapidly increasing challenges of managing space traffic and the risk of collisions from uncontrolled orbital debris. These objects range in size from a small chip of paint weighing grams to spent rocket stages weighing over 2 tonnes, both posing an immediate threat to hundreds of billions of dollars of assets in space that deliver essential services to our economy.
“Thanks to the unwavering support of the government of Quebec and our investors in North America and Luxembourg, NorthStar’s unique space-based services will provide coverage of significant gaps that were previously inaccessible from ground-based systems. This represents a significant contribution to the sustainability of the space environment for future generations,” said Stewart Bain, co-founder and CEO of NorthStar Earth & Space.
