StartupsVC/PE

Quindar Closes $2.5M Seed Round

Quindar, a startup building a web app for satellite owners to design, test, and operate their constellations with little to no human intervention, announced this morning the closing of a $2.5M seed round raised from Y Combinator, FCVC, Soma Capital, and Liquid 2 Ventures.

“One of the value propositions of being an aerospace company with a software business model is that it allows us to be pretty lean and provide well for new hires,” CEO Nate Hamet told Payload. “We were very fortunate to become oversubscribed, to close our round early, and to have such strong interest from investors.”

The team of six technical cofounders will use the funds to make three new engineering hires. The Quindar team comes from OneWeb, where they built and operated the platform that controls the company’s 542 satellites in orbit today.

Since graduating from YC’s summer batch, Quindar has been working with customers, iterating on its product. Quindar’s users range from those still at the clean-sheet stage to full-blown satellite manufacturers. The startup has deepened partnerships with ground station operators and space situational awareness (SSA) providers. As for Quindar’s tooling, its web app has grown beyond only operations to also target manufacturers and ground players.

We sat down with Quindar for a Q&A last fall. Since then, the startup says its initial bet has been validated: customers want to spend less time fixing problems and more energy on their own value prop. Plus, keeping a close eye on burn is key in today’s economy.

An analogy: Quindar hopes to shake up the industry the same way AWS (Amazon Web Services) took the world by storm with cloud computing. Hamet envisions the company growing into an “IT for space” provider. And that’s the pitch to space startups: we’ll abstract away operational complexity, so you can focus on getting to space quicker—and bringing your product to market at an affordable price point.

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