August 26, 2020
Washington, DC - Pallas Ventures has joined a first seed round with a new investment to support Morpheus Space as a strategic partner. While the amount of money raised is undisclosed, the round included investments from Vsquared Ventures, Lavrock Ventures, Airbus Ventures, In-Q-Tel, and Techstars Ventures.
Morpheus Space manufactures thrusters that enable small satellites to maneuver and reduce the complexity of propulsion systems in large satellites. These cutting-edge thrusters are pioneering new modes for on-orbit maneuverability. Morpheus plans to use the capital to hire employees, increase production and expand its business to the United States. Pallas Ventures is proud to support Morpheus as it supports a sustainable future in space and opens up possibilities for the industry to optimize nano-satellite operations.
Pallas Ventures Managing Director and former Navy Secretary Richard Spencer will join the Board of Morpheus Space. The company’s “unique propulsion systems are poised to revolutionize the space industry,” said Spencer. “Morpheus has built an impressive capability and has the team to deliver for both public and private sector customers worldwide.”