Blasting Into the Aerospace Industry
Founded by Cantrell as well as entrepreneurs Michael D'Angelo and Michal Prywata in 2020, Phantom Space Corporation strives to launch hundreds of small vehicles and satellites into space with mass production methodologies.
So far, Phantom Space Corporation boasts 46 successful spacecraft and satellite programs, as the startup aerospace company makes moves to secure more launch sites across the globe. Recently, the aerospace business acquired StratSpace, an Arizona-based space market forecasting and flight hardware company, to bolster its ranks.
According to Phantom Space Corporation, the aerospace company is currently working on an imaging satellite for a commercial customer that will be “deploying this imagery in support of United States Department of Defense core missions.” Additionally, the startup is preparing for the launch of its Daytona rocket, slated for flight sometime during Q1 2023. The Daytona design is capable of delivering a 450-kilogram payload to low Earth orbit at about $4 million per launch.
"Phantom Space is among the best-positioned space startups to democratize access to space," said Richard Chenel, founder and managing partner at Chenel Capital. "Phantom has seen strong demand from both government and commercial partners and we're thrilled with the opportunity to provide the lead in capital for this round that will support their growing pipeline of customers and launch sites.”
Racing Toward Democratized Space Travel
Market research projects the global space industry to reach a value of $558 billion by 2026 at a CAGR of 5.6%. The private space industry is rife with competition, from giants like Elon Musk’s SpaceX and Jeff Bezos’s Blue Origin to smaller startups like Rocket Lab and BluShift. Phantom Space Corporation seeks to find its role in the industry by mass-producing smaller spacecraft and satellites at affordable prices.
About the Author
James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.