Good morning. We’re so excited to announce Rep. Doug Lamborn is joining our Space Capitol event next week! Scroll down for more details.
💰 Prewitt Ridge’s Series A
🎙️ Pathfinder #0062
🔁 On the move
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Exclusive: Prewitt Ridge Raises $4.1M Seed Round
Prewitt Ridge cofounders Zeke Brechtel and Steve Massey. Image: Prewitt Ridge
Prewitt Ridge has closed a $4.1M seed round, which will allow the startup to expand its go-to-market team and build new integrations for its Verve requirements management software, CEO Steven Massey told Payload.
The details: Squadra Ventures led the round, which also included participation from Stage Venture Partners, Aurelia Foundry, Wonder Ventures, Haystack, Acquia, techStars, GC&H, and leading angel investors.
“Prewitt Ridge’s world-class team has the deep industry knowledge, empathy for users and grit that will help engineers increase efficiency and save time,” said Guy Filippelli, managing partner of Squadra Ventures, who will join Prewitt Ridge’s board of directors as part of the fundraise.
“As the US Department of Defense puts a greater emphasis on digital engineering, it is more clear than ever that uniting teams and increasing manufacturing output is vital to our national security and advancing American competitiveness.”
Prewitt Ridge 101: The software company, which was founded in 2019, helps engineers organize and manage requirements with its Verve program, aiming to speed up and simplify complex projects.
The company, which was in Techstars Starbust Space Accelerator’s class of 2020, has won $2.2M in DoD SBIR awards and recently participated in two engagements with the Air Force Research Laboratory, according to a press release.
Verve’s future: The software is already being used by space companies, including Muon Space and Hydrosat, but the company believes Verve has widespread applications beyond the space industry. Prewitt Ridge is looking to expand Verve’s customer base, both across the federal government and to non-space industries, such as the automotive industry.
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Request a demo on Epsilon3's website to learn more. (Or if you’re a software engineer, apply to join their team.)
Synbio and Drug Discovery in Space + Pathfinder #0062 with Mark Kugel
Space's unique environment holds vast potential for biotech advancements, Mark Kugel, co-CEO and cofounder of German space biotech company Yuri, told Payload.
Why space? In this week’s Pathfinder podcast, Mark says that space changes biological systems in commercially valuable ways:
Complex cell development: Enhanced growth results in superior organoids, optimizing drug testing and tissue engineering.
Crystal quality and size: Space improves the formation of protein crystals, bolstering drug discovery and delivery processes.
Human aging effects: Studying space's impact on aging could illuminate early-stage drug solutions for age-driven diseases, such as cancer.
Microbial evolution: Space prompts unique microbial adaptations, potentially producing advanced strains and enzymes beneficial for the pharma, food, and agritech sectors.
Yuri’s core innovations:
Space-ready bioreactors: Yuri's modular bioreactor system offers a novel approach for cultivating biological materials in space. Compact and transport-friendly, it's tailored for expeditions, including the ISS.
Ground-based space simulation: Prior to committing to space-bound projects, researchers can utilize Yuri's simulator to anticipate the effects of microgravity on their experiments.
Yuri's partners range from pharmaceutical giants and government agencies to academic institutions. The company has worked with the likes of NASA, ESA, and GSK, the British multinational pharma and biotech company.
A sneak peek…
Before Yuri, Mark Kugel supported the digital transformation of Rolls-Royce Power Systems and built an "Airbnb for consumer products" called Usely. In today’s episode, we chat:
Yuri’s origin story
A history of biotech in space
The initial focus on synbio and drug discovery
Why space biotech is ready for commercialization
And much more…
Pathfinder #0062 is live now…
See You Next Week!
Join us at our second Space Capitol event, where we will bring together emerging space companies and the government for a thought leadership and networking experience.
In Other News
SkyFi launched open data and insights on its EO imagery and data platform.
Frank Rubio set the record for longest continuous stay in space by a NASA astronaut.
Terran Orbital ($LLAP) opened a new 60,000-sq ft manufacturing facility in Irvine, CA.
OneWeb unveiled a new compact portable terminal for military and emergency use.
On the Move
All.Space named Chris Emerson chairman of the board. Emerson is a partner at AE Industrial Partners.
Speedcast tapped James Feger as CTO. Feger previously served as SVP at F5.
Slingshot named Audrey Schaffer, a former White House official, VP of strategy and policy.
SpaceNews promoted Paige McCullough to VP of business development.
Space-Tech welcomed retired sergeant Scott Stalker to the team.
USSF tapped Chris Beauregard, former director of commercial space policy at the National Space Council, as its new branch chief for operational imperatives.
The View from Baikonur
The Soyuz rocket that will carry NASA astronaut Loral O’Hara, as well as two Russian cosmonauts, was rolled out to the pad on Tuesday for a Sept. 15 launch to the ISS.