Lithuanian Blackswan Space raised €760K

Vilnius-based space tech Blackswan Space, which develops software products for complex space and defense missions, has raised €760K.

The pre-seed round was led by Lithuanian fund and accelerator ScaleWolf, with participation from Vilnius-based Baltic Sandbox Ventures, Estonian VC Lemonade Stand, Linas Sargautis (co-founder of Lithuanian small satellite manufacturer NanoAvionicsa), and Vladas Lašas (founder of Lithuanian industrial automation equipment supplier Elinta.eu).

Founded in 2019 by Marius Klimavicius, Blackswan Space has developed a mission design simulator (MDS) that allows customers to design, test, and visualize complex spacecraft maneuvers for in-orbit servicing, object retrieval missions, space domain awareness, or simulating satellite constellations in real-time. The company has also developed a vision-based navigation (VBN) system for satellites that enables spacecraft to perform autonomous navigation maneuvers when ground control is not possible. Since its initiation, Blackswan Space has cooperated closely with the European Space Agency (ESA).

The company will use the investment to expand its engineering team to accelerate product development and scale its commercial activities in 2024.

Scale Wolf accelerator and fund was established by the Lithuanian state-owned company INVEGA, with a total size of €13,5M. Scale Wolf invests in Lithuanian startups, developing defense and security technologies, in particular, artificial intelligence and IT, lasers, optics, cybersecurity, virtual reality, etc.

Baltic Sandbox Ventures is a Lithuanian accelerator for SaaS and Fintech startups. It invests in startups working in deep technologies and life sciences.

Founded in Tallinn in 2019 by Siim Teller, Lemonade Stand invests in early-stage tech companies from the Baltic and East European regions. The initial ticket ranges from €25K to €300K.