Rendering of Orbit Fab’s RAFTI refueling ports. Photo: Orbit Fab

Orbit Fab, which aims to offer on-orbit refueling services, has raised $28.5 million in its Series A round, the company announced Monday. 8090 Industries led the round, with major investments by Stride Capital, Industrious Ventures, Lockheed Martin Ventures, Tribe Capital, Good Growth Capital, and Massive Capital Partners.

The company plans to use the capital to deploy fuel delivery and storage infrastructure in Geostationary Orbit (GEO), Low-Earth Orbit (LEO), and Very Low Earth Orbit (VLEO). The company’s fuel shuttles are designed to dock with spacecraft and replenish their fuel. 

CEO Daniel Faber said this funding round shows commitment and confidence from investors. 

“We will leverage the funding to drive fuel sales and intensify the production and integration of our RAFTI refueling ports aboard government and commercial spacecraft to power the engines of the industrial revolution in space. As rockets have become reusable over the past decade, Orbit Fab has made satellites reusable to enable the bustling space economy,” Faber said. 

The company has booked at least four fuel shuttle missions set to launch over the next three years, including three defense contracts valued at $21 million. Orbit Fab is hiring for a number of roles including COO and chief engineer, and hopes to make at least 25 key hires this year.