# AstroForge

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/astroforge

- Industry: Aerospace
- Headquarters: Huntington Beach, US
- Website: www.astroforge.io/
- Total disclosed funding: $54M
- Latest round: Series A (Jul 23, 2024)
- Investors on record: 10

## About

In 2022, the company was founded by Jose Acain and Matt Gialich, two space industry veterans from SpaceX and NASA, through Y Combinator startup funding, with the mission to utilise precious minerals on astroids. In the kickstart of the business, the company raised USD 13 million in seed round led by new investor Initialized Capital, with participation from other new investors 776, Aera VC, Earthrise Capital, Liquid 2 Ventures and Soma Capital Management. The company also lined up with OrbAstro to manufacture the first satellite for the demo mission for partnership, with acquisition of a spot on a SpaceX Falcon 9 rideshare mission. The company operates as a mining company focusing on astroids. The company has identified several astroids that are in fit orbits and have a suitable concentration of platinum-group metals. For now, the company is under development of its flight and will launch the flight in 2023. The company plans to complete two tasks -- finishing initial demostration flight and launch it on a SpaceX Falcon 9 rideshare mission by deploying fund raised in 2022. In August 2024, AstroForge raised USD 40 million in series A funding led by Nova Threshold, with participation from 776, Caladan, Initialized Capital, Uncorrelated Ventures, and Y Combinator.

## Funding rounds

- Series A, Jul 23, 2024, $41M — Y Combinator, Initialized Capital, Uncorrelated Ventures, 776, Caladan, Nova Threshold
- Seed, May 26, 2022, $13M — Earthrise Capital, Initialized Capital, Soma Capital Management, Liquid 2 Ventures, Aera, 776

## Investors

- Earthrise Capital (https://capitalatlas.ai/funds/earthrise-capital) — Seed
- Initialized Capital (https://capitalatlas.ai/funds/initialized-capital) — Seed, Series A
- Soma Capital Management (https://capitalatlas.ai/funds/soma-capital-management) — Seed
- Liquid 2 Ventures (https://capitalatlas.ai/funds/liquid-2-ventures) — Seed
- Aera (https://capitalatlas.ai/funds/aera) — Seed
- 776 (https://capitalatlas.ai/funds/776) — Seed, Series A
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Series A
- Uncorrelated Ventures (https://capitalatlas.ai/funds/uncorrelated-ventures) — Series A
- Caladan — Series A
- Nova Threshold — Series A