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Classified in: Transportation, Business
Subject: VEN

Inversion Announces Close of $10 Million Seed Funding Round Led by Spark Capital


LOS ANGELES, Nov. 16, 2021 /PRNewswire/ -- Inversion, a disruptive startup building the first low-cost, high-cadence return capability from space for the commercial and defense industries, today announced the close of its seed round, totaling $10 million, led by Spark Capital with participation from Y Combinator, Embedded Ventures, Funders Club, Liquid 2 Ventures, and notable angel investors including Kyle Vogt of Cruise, David Hodge and others.

This funding will accelerate Inversion's development of its space capsules and further drive the company's go-to-market capabilities beyond the blistering pace it has already established.

Inversion's low-cost "Arc" space capsules are 4 feet in diameter and return cargo to Earth, filling a previously unmet need in space return capabilities.

"Inversion is excited to have the support of these incredible partners to help us transform how humanity utilizes space. My Co-Founder, Austin Briggs, and I founded Inversion because there was a distinct gap in accessible down mass capability for the industry," said Justin Fiaschetti, CEO & Co-Founder of Inversion. "The market has been hungry for low-cost return for a number of years, and we are thrilled to be the first company focused on that! There are hundreds, if not thousands, of new ideas, innovations, and world-changing businesses that will be enabled by Arc."

Headquartered in Los Angeles, Inversion has a relentless focus on simplifying operations and design to reduce technical risk and overall costs while also shortening timelines. The Arc capsule offers a no-frills design, innovating in key places to improve capabilities for Inversion's customers.

"Inversion is one of the very first to address the problem of the lack of return options in the space industry," said Santo Politi, Co-founder & General Partner of Spark Capital. "They are taking a unique approach to an overlooked problem in a growing industry, with an incredibly strong team to lead the way and set the bar."

"Inversion's dual-use strategy makes them a perfect fit for Embedded Ventures, and the advances they have made in less than a year matches the pace we've wanted to see in the space industry for a long time," said Jenna Bryant, Co-Founder, CEO, and General Partner of Embedded Ventures.

Inversion is also working to develop and test Arc's systems on a smaller capsule named Ray, a test bed to quickly iterate Arc's systems through real-world testing. Inversion is moving at an incredible pace, and is well on track for Ray's first mission, scheduled to launch and return in 2023.

About Inversion
Justin Fiaschetti and Austin Briggs co-founded Inversion in 2021 with the mission to build the first affordable, high cadence return capability for the commercial and defense space industries.

With launching to space becoming cheap and frequent, comparable options for return must become available to allow for a robust economy in space. We believe in a future where returning from space is as common as launching to space. Inversion is building reentry vehicles faster and cheaper than ever before through a focus on simplicity. Learn more at www.inversionspace.com, @inversionspace on Twitter and all socials. 

About Spark Capital
We are Spark Capital, investors in products we love by creators we admire, including Affirm, Carta, Coinbase, Cruise, Discord, Oculus, Plaid, Postmates, Slack, Twitter, and Wayfair. We know there are no playbooks or formulas for success and are here to help founders win their own way. We invest across all sectors and stages, and work out of San Francisco, Boston, and New York City.

About Embedded Ventures
Launched in 2020, Embedded Ventures is a next generation venture capital firm investing in dual-use space startups beyond launch, best described as "The VC Remix," named both for their unique investment approach and backgrounds. Co-Founders Jenna Bryant and Jordan Noone, co-founder and former CTO of 3D-printing rocket startup Relativity Space, both have atypical industry experiences and strong passions for the communities they represent. The firm prefers to invest in the pre-seed and seed stage startups focused in areas beyond space launch, and extending to advanced manufacturing, digital engineering and domestic supply chain solutions. To learn more about Embedded Ventures, please visit its website, Medium, Twitter, Twitch and YouTube pages. Embedded Ventures has started to invest in multiple startups and will have many portfolio company announcements to share over the next few months.

For more information:
Inversion, Justin Fiaschetti, justin@inversionspace.com, 908-268-7574
Spark Capital, marketing@sparkcapital.com
High10 Media for Embedded Ventures, Ian Guss, ian@high10media.com

SOURCE Inversion


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News published on 16 november 2021 at 09:30 and distributed by: