The raise, one of the largest seed rounds for an Australian deep technology company, will enable MP Space to scale local manufacturing, expand its range of power-system platforms and grow its Australian engineering team.
The investment highlights the strategic importance of the federal government’s Statement on Space, which sets out the national focus areas: trusted space services, spaceflight ecosystem, space platforms, microgravity ecosystem and exploration technologies.
MP Space’s power infrastructure underpins each of the five areas, supplying the reliable, fit-for-purpose power every satellite, launch vehicle and lunar mission depends on to operate.
The scale of the seed round reinforces the increased confidence investors have in Australia in the wake of the federal government releasing the strategic agenda for the space industry.
“Our thesis is simple: the next generation of spacecraft will need a lot more power and the space industry needs better ways to generate, store and manage it,” said Jay Manley, CEO and co-founder, MP Space.
“We’ve seen enormous advances in power electronics, software and energy storage through electric vehicles, grid-scale energy and home batteries. MP Space is bringing that same advanced technology to spacecraft power systems, designed from the outset to be manufactured reliably and at scale.
“This raise reflects the customer demand we’re already seeing and gives us the capital to accelerate. Over the next 12 months, our focus is expanding manufacturing capacity, scaling the team and delivering power systems for the next generation of spacecraft and constellations.”
The round was led by Blackbird, with participation from Systemiq Capital, Seraphim Space, Speedinvest and MFV Partners, bringing together Australian and international investors to support MP Space’s next phase of growth.
Founded in January 2024 by former Tesla engineers Jay Manley (CEO) and Sam Paterson (CCO), MP Space has already been designed into several space services and missions, totalling more than 500 spacecraft, with its hardware set to fly in orbit for the first time in Q4 2026.
MP Space has been a resident of the NSW government-backed National Defence and Aerospace Hub (formerly National Space Industry Hub) at Cicada Innovations for over two years, presenting at Cicada x Tech23 in Sydney on 9 September 2026 alongside this year’s cohort of Australian deep-tech ventures.
“The Space Industry Association of Australia (SIAA) is delighted to see one of our members, MP Space, moving forward so quickly to commercialise such a strategic niche which underpins the success of the entire industry,” said Dan Lloyd, CEO, Space Industry Association of Australia.
“We can get fixated on the many visually impressive technologies in the space industry, especially rockets and satellites, but we cannot forget that in the end, our economic resilience and Future Made in Australia will depend upon our ability to build, maintain and replenish the critical inputs, such as reliable, fit-for-purpose and efficient power systems.
“The momentum that Australia is building across the sector right now is demonstrating that government, industry and the international markets all recognise the unique potential for Australia in space. We have unparalleled clear skies, massive open test facilities and top global engineering talent. With the Ministerial Statement on Space and the raft of activity across National Security and Defence, Australia is rapidly developing the policy vision which will drive there.”
Want to see more stories from trusted news sources?Make Space Connect a preferred news source on Google.
