London-based spacetech startup Foundational has raised £8.2 million in pre-seed funding as it emerges from stealth, targeting the growing need for more precise satellite positioning in orbit.
The round was backed by Inflection, BACKED, Final Frontier, Adjacent and Type One Ventures. Foundational plans to use the funding to expand its satellite positioning infrastructure, develop automated ground stations and scale its data platform.
Foundational is building a system that combines satellite retroreflectors, automated laser-ranging stations and software to deliver accurate orbital positioning data
The company says its technology can support satellite navigation, Earth observation and space traffic management as the number of objects in orbit continues to rise.
For Black and Brown founders building deeptech and space infrastructure in the UK, the raise shows investor appetite for capital-intensive technologies tackling critical problems in the commercial space economy, while underscoring the opportunity for more diverse founders to participate in the sector’s growth.
