MP Space Raises A$23M to Scale Satellite Battery Output

MP Space Raises A$23 Million to Expand Satellite Manufacturing

Australian space technology startup MP Space has raised A$23 million (approximately US$16.1 million) in seed funding to expand satellite battery manufacturing and develop additional spacecraft power systems.

The round was led by Blackbird Ventures, with participation from Seraphim Space, Systemiq Capital, Speedinvest, and MFV Partners.

Founded in 2024 by former Tesla engineers Jay Manley and Sam Paterson, MP Space develops batteries and related power infrastructure for satellite operators.

The company says it has already received orders supporting more than 500 spacecraft.

Furthermore, its batteries recently reached orbit aboard SpaceX's Bandwagon-5 mission, marking an important early commercial milestone.

Why Satellite Batteries Are Becoming a Bigger Business

Satellites require dependable power systems to operate their communications equipment, sensors, computers, and other onboard technology.

However, designing power systems for space is more complicated than producing ordinary commercial batteries.

Equipment must withstand launch conditions, temperature variations, and the demanding environment of orbit.

Additionally, satellite manufacturers need components that deliver consistent performance while minimizing weight.

Traditionally, operators have faced two main choices: purchase specialized systems from established suppliers or develop their own components.

MP Space wants to offer another option.

The company is developing standardized power products that satellite manufacturers can purchase without building every component internally.

How MP Space Plans to Compete

MP Space believes it can provide satellite batteries at lower prices than many existing suppliers.

CEO Jay Manley told Payload that the company's products could cost approximately 20%–33% less than prevailing market prices while remaining profitable.

However, those figures represent the company's commercial claims rather than independently verified industry-wide savings.

The startup's existing battery products weigh less than five kilograms each.

These smaller systems target spacecraft operators looking for compact, cost-effective components.

Furthermore, the company plans to develop products for larger satellites as demand for onboard computing and electrical power increases.

Why the New Funding Matters

MP Space will invest in its manufacturing facility in Sydney.

The company aims to increase production capacity and expand its engineering team.

Its longer-term ambition is to manufacture approximately 5,000 space power components annually by the end of 2027.

However, this is a production target, not an achieved output level.

The funding will also support new products such as power-conditioning equipment, battery chargers, solar-array control components, and power-distribution systems.

Consequently, MP Space is attempting to become a broader spacecraft power infrastructure supplier rather than remaining solely a battery manufacturer.

The Business Opportunity in Satellite Infrastructure

Satellite launches have become more accessible as commercial launch providers expand capacity.

However, manufacturing reliable spacecraft components remains a significant challenge.

For example, a startup developing Earth-observation satellites must secure dependable batteries, power electronics, and other specialized systems.

If these components can be purchased from reliable suppliers, the company may be able to reduce internal development costs.

This creates opportunities for specialist manufacturers such as MP Space.

Nevertheless, success will depend on quality, flight heritage, manufacturing capacity, and the ability to support customers over long spacecraft operating lifetimes.

What's Next for MP Space?

MP Space will expand production in Sydney and develop its next generation of spacecraft power products.

Meanwhile, its existing orders will provide opportunities to establish a stronger operating record in orbit.

The next major milestone will be delivering products reliably across hundreds of spacecraft while meeting its manufacturing expansion targets.

Ultimately, MP Space demonstrates that the commercial space economy is creating opportunities for companies that supply essential infrastructure, not just those building rockets or satellites.

Frequently Asked Questions

How much did MP Space raise? A$23 million, approximately US$16.1 million.

Who led the investment? Blackbird Ventures.

What does MP Space manufacture? Satellite batteries and other spacecraft power-system components.

How many spacecraft will use its products? The company reports orders supporting more than 500 spacecraft.