Posted: Sun, Dec 15, 2024, 8:57 AM ET (1357 GMT)
Australian company Fleet Space Technologies has raised $100 million to advance satellite-based mineral exploration technologies on the Earth and moon. Teachers' Venture Growth, part of the Ontario Teachers' Pension Plan, led the nine-year-old company's Series D funding round announced Wednesday, valuing the company at $525 million. The proceeds will help the company miniaturize mineral prospecting ground sensors that use its satellites to send seismic data to customers. Fleet says more than 50 exploration companies have used its ExoSphere service on projects across five continents. The company has also developed a version of the technology for use on the moon, with a sensor going on Firefly Aerospace's second Blue Ghost lunar lander mission in 2026.

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