MP Space, a Sydney company that builds power systems for spacecraft, has raised an A$23m (about US$16m) seed round led by Blackbird. The company announced the round on 26 October 2026.
Systemiq Capital, Seraphim Space, Speedinvest and MFV Partners also invested. Startup Daily reported that it was Seraphim Space's first investment in an Australian company. MP Space did not disclose a valuation.
“Our thesis is simple: the next generation of spacecraft will need a lot more power.”Jay Manley, CEO and Co-founder, MP Space
What MP Space does
MP Space designs hardware and software that generate, store and manage power on satellites and other spacecraft. Its first product is a software-defined battery, which it has already delivered to customers.
Chief executive Jay Manley said the company's thesis is that the next generation of spacecraft will need much more power. Lucas Bishop, a vice president at Seraphim Space, said power is a basic limit on what a spacecraft can do, and that this has pushed spacecraft makers to bring more of their supply chain in-house.
The company says its technology has been designed into space services and missions covering more than 500 spacecraft, and that its hardware is now in orbit on several spacecraft. It did not name customers.
Startup Daily reported that the company expected its hardware to reach space for the first time in October 2026. The company's own announcement says its hardware is now in orbit on several spacecraft.
The founders
MP Space was founded in January 2024 by Manley and chief commercial officer Sam Paterson, both former engineers at Tesla. It is based in Eveleigh, in inner Sydney.
Samantha Wong, a partner at Blackbird, said the company is moving with speed and precision in a market with large potential. Dan Lloyd, chief executive of the Space Industry Association of Australia, and Liza Noonan, chief executive of the Cicada Innovations incubator, also welcomed the round in the company's announcement.
Wong pointed to the fact that MP Space has already delivered its software-defined battery. Lloyd said Australia's economic resilience and its Future Made in Australia policy will depend on its ability to build. Noonan said Cicada Innovations provides the specialist support and facilities needed to build such companies.
Who invested
Blackbird led the round, and Blackbird partner Samantha Wong spoke for the firm in the announcement. The other investors are Systemiq Capital, Seraphim Space, Speedinvest and MFV Partners. Seraphim Space vice president Lucas Bishop said power is a fundamental constraint on what a spacecraft can do.
The company did not say whether it had raised money before this round, and no earlier funding is reported. It also did not name the spacecraft operators or missions that use its systems.
What the money is for
MP Space will use the money to expand its manufacturing capacity in Australia, build a wider range of power systems and grow its Australian engineering team over the next 12 months.
Manley said the raise reflects customer demand the company is already seeing and gives it the capital to accelerate. The company did not say how many people it employs.
Company website: mpspace.io