E-Space has raised $50 million in a seed round led by Prime Movers Lab, the largest seed-stage investment for a space startup.
The sustainability-focused startup is developing a mesh satellite network that can carry secure communication nodes for use by businesses and governments. E-Space is also designing satellites that will capture and de-orbit small space debris and combat climate change by providing real-time information on sensors and devices that can be used to upgrade electric grids.
Founded by industry veteran Greg Wyler, the creator of satellite companies O3b Networks and OneWeb, E-Space plans to launch 100,000 satellites into orbit this decade. The company, which consists of two independent entities based in France and the US, plans to use the capital for the "Beta 1" launch of its first test satellites in March, with a second launch scheduled for later this year.