Fleet Area Applied sciences has raised $50 million in a Collection C spherical that values the South Australian satellite tv for pc startup at greater than $350 million.

The spherical was led by present backers Blackbird, with assist from Atlassian cofounder Mike Cannon-Brookes’ Grok Ventures, Alumni Ventures and tremendous fund Hostplus. New to the cap desk are TelstraSuper, former treasurer Joe Hockey’s advisory agency Bondi Companions by its 1941 Fund and Pavilion Capital.

Fleet beforehand raised $36 million in a Collection B in late 2021 with Artesian Enterprise Companions, Blackbird, Grok Ventures, and Horizons Ventures collaborating.

The corporate’s ExoSphere satellite-based mineral exploration expertise is now utilized by greater than 30 mining shoppers, together with Rio Tinto, Barrick Gold, Core Lithium and Gold Fields within the hunt for potential deposits.

ExoSphere’s 3D subsurface imaging capabilities improves the focusing on of exploratory drilling. The corporate can also be making its Geode floor sensors smaller, lighter, and extra able to buying a number of knowledge varieties concurrently to enhance the insights ExoSphere can ship.

Final month Fleet scored a $6.4 million Australian defence contract that can see will see its next-generation of Centauri satellites used to develop and display a Low Earth Orbit satellite tv for pc communications system targeted on tactical communications and knowledge transmission the place connectivity is restricted.

CEO and cofounder Flavia Tata Nardini stated ExoSphere is remodeling mineral and mining initiatives worldwide.

“With this new funding, we’re in a super place to propel additional innovation and drive progress throughout the mineral exploration trade, not solely in Australia however throughout the globe,” she stated.

“Wanting forward, our imaginative and prescient extends past Earth as we goal to leverage these cutting-edge strategies to scan the Moon and Mars, enabling accountable exploration and unlocking extraterrestrial sources that have been as soon as out of attain.”

Tata Nardini stated that the launch of Exosphere, delivered $28 million in contracted revenues inside a yr from prospects on each continent.

“We’re believers that house enabled knowledge in exploration will permit the seek for vital minerals to hurry up a lot that we will attain humanity’s targets for web zero,” she stated.

“With this capital we goal to map the subsurface of Earth and discover the deposits which might be wanted with a a lot decrease environmental influence.”

The funding may also be deployed on creating expertise enabled by machine studying and AI, and new product traces by an expanded constellation of satellites.

The Adelaide-headquartered firm now has extra 100 staff and workplaces in Canada, Luxembourg, and Chile, alongside a US crew.