TAMPA, Fla. — Software startup Epsilon3 said on June 20 it has raised $15 million to expand its suite of space project management solutions.
Existing investor Lux Capital led the Series A funding round to support Epsilon3’s web-based platform, which provides collaboration tools tailored for spacecraft production and operations.
Engineering and operations teams behind a fifth of orbital launches from the United States in the year so far have used Epsilon3 software, according to chief operating officer Max Mednik, who co-founded the startup 18 months ago.
Mednik said Epsilon3 has built a “mix of space startups and established large companies” as clients, including Rocket Lab, Virgin Galactic, Sierra Space and the US Space Force.
He said the Los Angeles-based company also “supports a multi-thousand-person launch company” in the US, which he did not name, and is “in talks with some of the major defense firsts interested in using our software and evaluate it now.”
Epsilon3’s platform is intended to replace applications including word processing software and Microsoft Excel spreadsheets for managing complex spacecraft-specific tests and operational workflows.
First Resonance, a startup founded by former SpaceX engineers that is also based in Los Angeles, has developed a collaborative software platform with a similar goal.
In December 2021, First Resonance announced it had raised $14 million in a Series A round led by venture capital firm Craft Ventures to scale its business.
Mednik said Epsilon3 is primarily focused on integration, testing and operational workflows, while First Resonance is more focused on workloads earlier in the process lifecycle.
“Some of our customers use both First Resonance and Epsilon3, and we look forward to building an integration with them in the future so that customers can build their hardware on First Resonance and then integrate and operate it with Epsilon3,” he said. .
Epsilon3 is led by CEO Laura Crabtree, who spent more than a decade as a mission operations engineer at SpaceX before co-founding the company.
The startup plans to use the proceeds from the latest funding round to hire more engineers to build new software products, including analytical tools to make workflows more efficient.
“The next major milestone is an interconnected suite of products that will help our customers perform their tests and operations even more efficiently and in a way that is synchronized with the other tools they use,” said Mednik.
Epsilon3 wax one of the 10 startups that cloud computing giant Amazon Web Services chose to join its month-long space accelerator program in June.
The accelerator course includes up to $100,000 in cloud networking technical services and resources.
Beginning investors Moore Strategic Ventures, Y Combinator and MaC Venture Capital also participated in Epsilon3’s Series A round, which brings total funding to more than $18 million, according to Mednik.