Inversion Space, a pioneering company in space-based cargo delivery, has successfully raised $44 million in Series A funding. Founded by Boston University alumni Justin Fiaschetti (ENG’21) and Austin Briggs (ENG’21), Inversion is set to transform the logistics and delivery industry with its innovative approach to rapid cargo transportation.
The funding round was co-led by Spark Capital and Adjacent, with notable support from Lockheed Martin Ventures, Kindred Ventures, and Y Combinator. This financial boost will propel the development of Inversion’s next-generation autonomous re-entry vehicle, Arc, which can deliver cargo anywhere on Earth in under an hour.
Inversion has made significant strides since its participation in Innovate@BU’s Innovation Pathway and Innovation & Entrepreneurship Bootcamp programs. Now, with a core team of 25 people, it’s designed, built, and tested Ray, a vehicle that could bring near-instant delivery of critical supplies, such as medicine and emergency materials, to disaster-stricken or remote locations. The company’s small spacecraft can store cargo in space for up to five years and precisely deliver it to targeted ground destinations, making it a game-changer for both civilian and military applications.
This ambitious endeavor is made possible by the dramatic reduction in launch costs, which has opened up new possibilities for orbital technologies. With this latest funding, Inversion is poised to make one-hour global cargo access a reality, following the historical footsteps of ocean faring ships and airplanes in shrinking the world.
