Rendering of Applied Atomics “Star Reacher Network” satellite architecture that allows multiple spacecraft equipped with multimode propulsion to work in tandem. Credit: Applied Atomics
WASHINGTON — U.K.-based startup Applied Atomics has raised $4 million in pre-seed financing and established a U.S. presence as it seeks to carve out a position in the market for spacecraft mobility, a sector attracting interest from military customers looking for more maneuverable satellites.
The company announced June 10 that the funding round was led by Oxford Science Enterprises. Other investors include Earth to Mars Capital, venture capitalist Tim Draper, Aramco Ventures, Bravo Victor Venture Capital, Jim Pallotta through Raptor Group, Ante-Bellum angels, Tiny Supercomputer Investment Company and Carat Venture Partners.
Applied Atomics said it has opened an office in Fairfax County, Virginia, marking its entry into the U.S. market.
At the center of the company’s strategy is what co-founder and chief executive Ashley Modeste Johnson describes as a “multimode” propulsion architecture that combines chemical and electric propulsion within a single spacecraft using the same propellant.
