ATLAS Space Operations, provider of cloud-based space communications solutions, received $26 million in Series B Funding led by Mitsui & Co., Ltd. The investment round furthers confidence in ATLAS’ Ground Software as a Service™ (G-SaaS) approach as a critical solution within the space economy.
The funding round is a part of strategic initiatives for both Mitsui and ATLAS. For ATLAS, this investment accelerates its plan for international growth, as well as its Ground Software as a Service business model. This is ATLAS’ industry disruptive software (Freedom™) solution which integrates complex disparate networks for government and commercial clients across a federated network.
For Mitsui, its investment in ATLAS further demonstrates the corporation’s commitment to its space portfolio. Mitsui has identified an area of focus for innovative companies that provide services to satellite operators. In 2018, Mitsui acquired a minority stake in BlackSky Global followed by an acquisition of Spaceflight, Inc, in 2020, a U.S. satellite rideshare service provider. The investment in ATLAS advances Mitsui’s position in the space industry as one of its new targeted growth areas.
Sean McDaniel, ATLAS Co-founder and CEO, stated, “A strategic partnership with Mitsui validates ATLAS’ position as a global leader in satellite communications services. This investment well capitalizes the company to accelerate growth in key areas of commercial and US government markets for which our services are in high demand. With this new partnership, ATLAS can expand its team to provide enterprise-level Ground Software as a Service solutions for the DoD Hybrid Space Architecture while increasing our market share in the private sector with our low risk, high-end services.”
Kazutomi Shigeeda, General Manager of Space Business Department in Mitsui, stated, “This investment in ATLAS expands our space business as a service provider for satellite operators. We strongly believe that ATLAS Ground Software as a Service can maximize the value of the ground stations and integrate other governmental and commercial ground station networks. In the future, we consider that ATLAS will be able to integrate satellite data relay networks as part of its own network, and it will lead us to the next generation satellite-ground communication infrastructure business. In order for ATLAS to achieve its vision, we will support its growth in collaboration with our space business portfolio and by utilizing Mitsui’s industrial network.”
Mitsui is joined in this funding round by investments including Beringea, as well as investments from foundational investors: Boomerang Catapult, Rise of the Rest, VCaptial, Northern Michigan Angels, Harmonix, Wakestream, and Grand Ventures.