Australian Startup MP Space Raises $16M to Power Next-Gen Satellites

MP Space, a Sydney-based startup, has raised US$16 million in seed funding to expand its spacecraft power systems.

The round was led by Blackbird with participation from Seraphim Space, Systemiq Capital, Speedinvest and MFV Partners.

Founders Bring Tesla Expertise to Space

Co-founders Jay Manley and Sam Paterson previously worked on battery systems at Tesla including Powerwall and vehicle packs.

The company started in early 2024 and now designs hardware and software for power generation, storage and management on satellites.

Its products have already been selected for missions involving more than 500 spacecraft.

Some hardware is already in orbit with additional flight tests planned soon.

Scaling Manufacturing for a Growing Industry

The funding will boost local production capacity and expand the engineering team in Australia.

Standardized power platforms can lower costs for satellite operators who traditionally rely on custom designs.

This approach supports faster deployment of constellations for communications and Earth observation.

Over the next 12 months the company aims to ship hundreds of units while developing larger systems.

Australian space firms gain from this success as global investors show interest in the local ecosystem.

Traditional suppliers of bespoke space batteries may face pressure from more affordable off-the-shelf options.