Mantis Space, an Albuquerque-based developer of space power infrastructure, has raised $10M in seed funding led by Rule 1 Ventures and Montauk Capital. The startup is deploying a constellation of spacecraft in lower medium-Earth orbit (MEO) to capture solar energy and beam it wirelessly via lasers to satellites and other assets during eclipses. The capital will fund team expansion from 20 people and manufacturing setup in Albuquerque.
Space Power Race Accelerates
The funding emerges amid a wave of investments in orbital energy solutions. Star Catcher Industries raised $12.25M seed in 2024, while Sophia Space secured $10M seed in February 2026 for orbital data centers. Aetherflux followed with $50M Series A in 2025. Mantis Space positions in lower MEO to beam power to LEO constellations and lunar missions, targeting eclipse downtime that limits up to one-third of satellite orbit time.
Eclipses Cripple Satellite Operations
Satellites in low-Earth orbit (LEO) face power shortages during eclipses, which consume up to 1/3 of their orbital time. This downtime reduces efficiency and shortens lifespan, as current batteries cannot sustain full operations. Mega-constellations and emerging orbital data centers exacerbate the issue, with power emerging as the key constraint beyond launch costs. Operators lose revenue potential from suboptimal orbits chosen to minimize eclipses.
Laser Beaming to Existing Arrays
Mantis Space's spacecraft use precise laser technology to deliver power directly to customers' existing solar arrays, requiring no hardware retrofits. Positioned in lower MEO, the constellation provides continuous energy to LEO satellites, habitats, in-space manufacturing, and lunar operations. This approach extends satellite life and boosts economic returns by 2-3x, according to company projections.
As CEO Eric Truitt noted:
"We are building a constellation of satellites that deliver power directly to solar arrays that exist in the market today."
MEO Grid Enables Lunar Reach
The system's compatibility with proven safe lasers differentiates it from ground-focused rivals like Overview Energy, which raised $20M in 2025 for space-to-Earth beaming. Mantis emphasizes space-to-space transmission, avoiding atmospheric losses. Optical assemblies and high-power components support applications in defense and research missions.
Strategic Investors Back Infrastructure Play
Rule 1 Ventures and Montauk Capital led the oversubscribed round, joined by Planet Ventures and others. This mix signals conviction in space infrastructure as foundational, akin to terrestrial grids. Admiral James Winnefeld Jr., a backer, highlighted the shift:
"As the orbital economy matures, the limiting factor shifts from launch to performance."
Investor focus aligns with Mantis' defense heritage from U.S. military veteran founders.
Power Beaming Market Scales Rapidly
The space power beaming market stands at $1.47B in 2025, projected to reach $5B by 2035 at 13.1% CAGR per WiseGuy Reports. Broader space economy grows from $600B to $1T by 2040. Proliferation of 100k+ satellites by 2030 drives demand for shared power solutions amid hyperscaler entry into orbit.
Veteran Founders Drive Credibility
Co-founder and CEO Eric Truitt previously co-founded PredaSAR, acquired via Terran Orbital by Lockheed Martin. Executive Chairman Hugh Wyman Howard III commanded U.S. Navy special operations and led NGA operations. COO Jeremy Scheerer managed $1B+ U.S. Air Force programs. The team includes experts from Sandia Labs, NASA James Webb Telescope, and Apple Face ID.
Albuquerque Anchors Manufacturing Hub
Mantis selected Albuquerque for HQ after a national search, securing $24M in incentives including $519,488 for hiring. Plans call for 200+ high-wage jobs averaging $180k and $480M economic impact over 10 years. Recent hires target optics, lasers, and power systems engineering to prototype the constellation.