# Fleet Space Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fleet-space-technologies-pty

- Industry: Telecoms
- Headquarters: Beverley, Australia
- Website: www.fleet.space/
- Total disclosed funding: $167M
- Latest round: Series D (Dec 11, 2024)
- Investors on record: 23

## About

Fleet Space Technologies, based in Australia, specializes in innovative mineral exploration solutions, leveraging space technology and artificial intelligence to deliver real-time geological insights and drive efficiency in resource discovery.Founded in 2015 in Beverley, Australia, Fleet Space Technologies develops advanced mineral exploration solutions. The firm was established by Flavia Nardini and Matthew Pearson, who have a background in technology and resource management. As of December 2024, the company completed its Series D funding round, raising AUD 150 million, led by Teachers' Innovation Platform, with participation from other investors. Fleet Space has completed 8 total deals and has a current valuation of AUD 800 million.Fleet Space Technologies specializes in advanced mineral exploration solutions, prominently featuring its flagship product, ExoSphere. This end-to-end solution integrates space technology, advanced multiphysics, and artificial intelligence to provide real-time insights into geological formations and mineral systems, with capabilities to image subsurface structures up to 2.5 kilometers deep. The technology minimizes environmental impact while enhancing efficiency in mineral discovery through predictive insights and AI-driven drill targeting. The ExoSphere solution is utilized across various markets, including Australia, the United States, Canada, Chile, and Luxembourg, serving mining companies, environmental agencies, and stakeholders in natural resource management.Fleet Space Technologies generates revenue through strategic partnerships and direct sales targeting B2B clients in the mineral exploration sector. The business model revolves around providing subscription-based access to its ExoSphere platform, enabling clients to leverage its capabilities for data-driven exploration. Transactions are established through contractual agreements that outline service usage, data access, and ongoing support, allowing clients to enhance their exploration processes through AI and satellite technology.In December 2024, Fleet Space Technologies Pty Ltd raised AUD 150 million in Series D funding led by Teachers' Innovation Platform, with support from returning investors. The funding will be utilized to advance the development of its ExoSphere product. The company plans to launch new features within ExoSphere and expand into additional markets in North America and Europe by 2025, aiming to broaden its reach within the mineral exploration industry.

## Funding rounds

- Series D, Dec 11, 2024, $96M — Horizon Founders Capital, Blackbird Ventures, Artesian, Alumni Ventures Group, Hostplus, Teachers' Innovation Platform
- Series C, May 11, 2023, $33M — TelstraSuper, Hostplus, Pavilion Capital, Blackbird, Alumni Ventures Group, Grok Ventures, Bondi Partners, Kracka Investments Pty Ltd, Scully Power Family Pty Ltd
- Series B, Oct 12, 2021, $26M — Horizon Founders Capital, Hostplus, In-Q-Tel, Artesian, Blackbird, Alumni Ventures Group, Grok Ventures, Fast Idea Group Limited, Kracka Investments Pty Ltd, Vivaldi International Limited, Harbour Capital
- Series A, Aug 30, 2019, $8.3M — Horizon Founders Capital, Artesian, Blackbird, Grok Ventures, Momenta Ventures, Crescent Joy Limited, Kracka Investments Pty Ltd, Earth Space Robotics Pty Ltd, Vivaldi International Limited, Kennard Family Office
- Series A, Apr 10, 2017, $3.8M — Horizon Capital Partners, Blackbird, Grok Ventures, Government of South Australia

## Investors

- Horizon Capital Partners (https://capitalatlas.ai/funds/horizon-capital-partners) — Series A
- Blackbird (https://capitalatlas.ai/funds/blackbird) — Series A, Series B, Series C
- Grok Ventures — Series A, Series B, Series C
- Government of South Australia — Series A
- Horizon Founders Capital (https://capitalatlas.ai/funds/horizon-founders-capital) — Series A, Series B, Series D
- Artesian (https://capitalatlas.ai/funds/artesian) — Series A, Series B, Series D
- Momenta Ventures (https://capitalatlas.ai/funds/momenta-ventures) — Series A
- Crescent Joy Limited — Series A
- Kracka Investments Pty Ltd — Series A, Series B, Series C
- Earth Space Robotics Pty Ltd — Series A
- Vivaldi International Limited — Series A, Series B
- Kennard Family Office — Series A
- Hostplus — Series B, Series C, Series D
- In-Q-Tel (https://capitalatlas.ai/funds/in-q-tel) — Series B
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series B, Series C, Series D
- Fast Idea Group Limited — Series B
- Harbour Capital — Series B
- TelstraSuper — Series C
- Pavilion Capital — Series C
- Bondi Partners (https://capitalatlas.ai/funds/bondi-partners) — Series C
- Scully Power Family Pty Ltd — Series C
- Blackbird Ventures (https://capitalatlas.ai/funds/blackbird-ventures) — Series D
- Teachers' Innovation Platform — Series D