Star Catcher, the Florida company building the first power grid in space, has raised $65m in an oversubscribed series A round.

Founded less than two years ago, Star Catcher is developing a space-based energy infrastructure layer that delivers electricity on demand to satellites and other spacecraft using optical power beaming.

Following a seed round and customer traction, the company set the world record for optical power beaming, completed a critical on-orbit subsystem demonstration and validated its end-to-end system architecture.

The money will help Star Catcher launch the first-ever space-based optical power beaming demonstration later this year. The mission marks a step towards constructing the first energy grid in space – built to deliver up to ten times more power to satellites with no retrofit or custom receiver required – and the first of a series of flight missions designed to reduce technical risk and deploy operational capability.

As the company advances towards on-demand power availability, this investment accelerates a second orbital mission already in development and strengthens the engineering and operations capacity to drive scalable grid deployment.

“This investment underscores the conviction that orbital infrastructure is now as fundamental as terrestrial infrastructure,” said Andrew Rush, CEO of Star Catcher. “Every major application driving the space economy – connectivity, computing, security, sensing – is power-limited today. Star Catcher is lifting that ceiling, making it possible to build in orbit at the scale the next century of life on Earth will demand.”

Star Catcher’s customer base spans commercial space operators and US government stakeholders. The company has signed seven power purchase agreements, secured multiple government contracts, and is managing a qualified commercial pipeline representing more than $3bn in projected annual recurring revenue. The series A will fund continued commercial expansion alongside deeper engagement with US national security customers.

The investment round was led by B Capital and co-led by Shield Capital and Cerberus Ventures. It brings Star Catcher’s total capital raised to $88m.

Cerberus’ John “Jay” Raymond, the first chief of space operations of the US Space Force, will join Star Catcher’s board, along with B Capital head of energy Jeff Johnson and Shield principal David Rothzeid. GreatPoint Ventures, Helena, Oceans Ventures and MVP Ventures also participated in the round.

“We focus on scaling technologies to enhance energy infrastructure, and the same dynamics we’re seeing on Earth are now playing out in orbit,” said Johnson. “There is exploding demand, limited shared infrastructure and a generational opportunity for the company capable of building the first in-orbit grid. We strongly believe Star Catcher is that company.”

Raymond added: “Energy and infrastructure resilience are core national and economic priorities on Earth, as in orbit. Persistent surveillance, resilient communications and unhindered manoeuvrability are all constrained today by power. An on-demand power grid can change that, expanding critical capabilities across commercial and national security missions.”

Star Catcher (www.star-catcher.com) is building the first power grid in space, beaming concentrated solar energy on demand to satellites in orbit with no retrofit required. By eliminating power as a constraint on spacecraft design and mission capability, Star Catcher hopes to unlock space operations for commercial, civil and national security customers.