Listen to this article
Karman+ secures $20 million in funding to develop low-cost asteroid mining technology aimed at supplying fuel and resources for the expanding space economy. By extracting water from near-Earth asteroids, the company seeks to reduce satellite refueling costs and support long-duration space missions. Its upcoming demonstration mission will test autonomous mining systems, with the long-term goal of enabling space-based manufacturing and reducing reliance on Earth’s resources.
Asteroid Mining Gets a Boost with a $20 Million Investment
Karman+, an asteroid mining startup, has raised $20 million in seed funding to advance its mission of extracting resources from near-Earth asteroids. The funding round was led by Plural and Hummingbird, with contributions from HCVC, angel investors, and tech entrepreneur Kevin Mahaffey. The company aims to use these funds to develop its first technology demonstration mission and customer missions, which are expected to launch in 2027.
Asteroid mining has long been discussed as a potential solution to resource scarcity on Earth and the growing demand for materials in space. The challenge has always been the cost and technical feasibility of extracting and utilizing these resources efficiently. Karman+ is working to change this by focusing on low-cost, scalable solutions that can make asteroid mining commercially viable.
Why Space Needs More Than Just Satellites
The space economy is expanding rapidly, driven by advancements in satellite technology, research initiatives, and commercial ventures. Communications, Earth observation, and deep-space exploration rely on a steady supply of materials and fuel. However, launching resources from Earth remains costly and inefficient due to gravitational constraints.
Without an alternative supply chain, long-term sustainability in space remains uncertain. Mining asteroids offers a solution by providing essential materials, such as water for fuel and metals for construction, without the need to transport them from Earth. Access to these resources is expected to support space-based manufacturing, fuel depots, and extended missions beyond Earth’s orbit.
Karman+ Takes on the Cost Problem in Space Mining
Returning material from asteroids has been demonstrated by missions such as JAXA’s Hayabusa 1 and 2 and NASA’s OSIRIS-REx, but these projects have incurred extreme costs. The OSIRIS-REx mission alone cost $1.3 billion to return just 121 grams of material, making large-scale asteroid mining financially unfeasible under traditional approaches.
Karman+ is working to significantly reduce these costs by adopting a scalable, commercial approach. The company is developing missions with budgets under $10 million by leveraging off-the-shelf components and modular spacecraft designs. This method allows for faster testing, deployment, and cost reductions that make asteroid mining a viable business model.
How Karman+ Plans to Turn Asteroids Into a Fuel Source
One of the primary goals of Karman+ is to extract water from asteroid regolith and convert it into fuel. Water can be directly used as propellant for spacecraft equipped with water-powered propulsion systems, or it can be split into hydrogen and oxygen for use as rocket fuel.
The ability to source fuel from space instead of launching it from Earth is expected to lower refueling costs for satellites by up to ten times. This approach could extend the lifespan of existing satellites, reduce space debris by enabling more efficient deorbiting, and support deep-space missions that would otherwise require excessive fuel loads at launch.
Recommended: Atigro Launches Atigro AI-ERP To Rejuvenate And Revitalize ERP Investments
The Tech Behind Mining in Zero Gravity
Karman+ is developing autonomous systems to support asteroid mining operations in microgravity environments. The company’s first demonstration mission, High Frontier, will test critical technologies needed for large-scale excavation.
Key technologies under development include:
- Optical navigation systems for precise interplanetary travel and landing.
- Beacon-based navigation (beacon nav) to assist spacecraft in mapping and interacting with asteroids.
- Zero-gravity excavation equipment designed to handle asteroid regolith without relying on traditional digging techniques.
By refining these technologies, Karman+ aims to establish a repeatable, cost-effective process for extracting materials in deep space.
From Space Tugs to Manufacturing Beyond Earth
The company’s initial focus is on supplying fuel for space tugs, which are used to reposition satellites and extend their operational lifespans. These tugs play a crucial role in servicing geostationary satellites, a market that already exists and is in need of cost-effective refueling solutions.
Long-term plans involve expanding asteroid resource utilization to include in-orbit manufacturing. With abundant materials available in space, industries such as semiconductor fabrication and pharmaceutical production could shift some of their operations beyond Earth’s surface. Moving industrial processes into space would reduce their environmental impact on Earth while enabling new technological advancements.
Karman+ Embraces Openness in the Space Race
Unlike many private space companies that operate in secrecy, Karman+ is taking an open approach to mission development. The company provides regular updates on its progress, inviting collaboration and feedback from the global space community. This transparency is designed to accelerate innovation, attract talent, and build confidence in asteroid mining as a practical industry.
This approach has already created engagement across the industry, leading to valuable partnerships and knowledge-sharing. By fostering an ecosystem where space companies work together rather than in isolation, Karman+ is positioning itself at the forefront of a rapidly evolving field.
What This Means for the Future of Space Economy
Affordable asteroid mining has the potential to transform how space missions are planned and executed. If Karman+ successfully demonstrates its low-cost approach, it could lead to a shift away from Earth-dependent supply chains, making space operations more sustainable and cost-efficient.
Investors and industry leaders are closely watching the company’s next steps, with the first technology demonstration mission serving as a key milestone. If successful, asteroid-derived resources could become a standard component of the space economy, opening the door for further commercial expansion beyond Earth’s orbit.
Please email us your feedback and news tips at hello(at)techcompanynews.com
