Australian space power start-up MP Space secures A$23 million in seed funding

Sydney-based space power technology company MP Space has closed a $23 million (US$16 million) seed round led by Blackbird, with Seraphim Space making its first-ever investment in an Australian company. The fundraising, one of the largest seed rounds for an Australian technology company, will enable MP Space to scale local manufacturing, expand its range of power-system platforms, and grow its Australian engineering team. The investment highlights the strategic importance of the Federal Government’s Statement on Space, which sets out the national focus areas: Trusted Space Services, Spaceflight  Ecosystem, Space Platforms, Microgravity Ecosystem and Exploration Technologies. MP Space’s power infrastructure underpins each of the five areas, supplying the reliable, fit-for-purpose power every satellite, launch vehicle and lunar mission depends on to operate. The scale of the seed round reinforces the increased confidence investors have in Australia in the wake of the Federal Government releasing the strategic agenda for the space industry. The round was led by Blackbird, with participation from Systemiq Capital, Seraphim Space, Speedinvest and MFV Partners, bringing together Australian and international investors to support MP Space’s next phase of growth. Founded in January 2024 by former Tesla engineers Jay Manley (CEO) and Sam Paterson  (CCO), MP Space has already been designed into several space services and missions,  totalling more than 500 spacecraft, with its hardware set to fly in orbit for the first time in Q4 2026. MP Space has been a resident of the NSW Government-backed National Defence and  Aerospace Hub (formerly National Space Industry Hub) at Cicada Innovations for over two  years, presenting at Cicada x Tech23 in Sydney on 9 September 2026 alongside this year’s  cohort of Australian deep-tech ventures. Jay Manley, CEO and Co-Founder, MP Space said: “Our thesis is simple: the next generation of spacecraft will need a lot more power, and the  space industry needs better ways to generate, store and manage it. We’ve seen enormous advances in power electronics, software and energy storage through  electric vehicles, grid-scale energy and home batteries. MP Space is bringing that same  advanced technology to spacecraft power systems, designed from the outset to be  manufactured reliably and at scale. This raise reflects the customer demand we’re already seeing and gives us the capital to  accelerate. Over the next 12 months, our focus is expanding manufacturing capacity, scaling  the team and delivering power systems for the next generation of spacecraft and constellations.” Samantha Wong, Partner at Blackbird said: “At Blackbird, our investment conviction starts with the founding team. Jay and Sam have gone  from solar racecar clubs at uni to industry-leading capability in scalable battery system design,  having built Tesla’s Powerwall from electrons to a $10 billion businessline. The same energy  management evolution will happen in space and we believe MP Space has a shot at  revolutionising this fast-growing industry. In less than two years, MP Space has already delivered a software-defined battery, with one of the highest gravimetric energy densities of any space battery, and will gain flight heritage this month. They are moving with speed and precision in a market that has explosive potential. As space unlocks more use cases, MP Space is well-placed to seize the opportunity with an indisputable hardware advantage and deep software capabilities. It’s an Aussie business redefining the global standard. These are the types of businesses we are proud to back.”  Lucas Bishop, Vice President at Seraphim Space said: “We’re excited to back Jay Manley, Sam Paterson and the broader MP Space team as they build the next generation of spacecraft power systems. Drawing on their experience scaling some of the world’s most demanding energy and power hardware programmes at Tesla, the team is exceptionally well placed to address two fundamental challenges facing the space industry. Power is a fundamental constraint on spacecraft capability, and we are seeing power requirements scale rapidly across almost every mission type. More available power directly enables more capable payloads, greater onboard processing and, ultimately, more  ambitious missions. Separately, the industry lacks proven, independent suppliers capable of delivering critical hardware reliably and at scale. This has made vertical integration a necessity rather than a choice for spacecraft manufacturers. By replacing bespoke, high-cost and low-volume systems with reliable, cost-effective and off-the-shelf power hardware, MP Space can help reverse this historical over-reliance on vertical integration. We believe this positions MP Space to become a foundational supplier to the next generation of spacecraft, and we’re delighted to support the team on that journey.” For Editorial Inquiries Contact: Editor Kym Bergmann at [email protected] For Advertising Inquiries Contact: Group Sales Director Simon Hadfield at [email protected]