Sydney-based space technology company MP Space has raised A$23 million (US$16 million) in a seed funding round. Blackbird led the round, with participation from Systemiq Capital, Seraphim Space, Speedinvest and MFV Partners. The investment marks Seraphim Space’s first investment in an Australian company.
The funding is one of the largest seed rounds for an Australian deeptech company. MP Space will use the money to expand its local manufacturing operations, develop more power-system products and grow its engineering team in Australia.
The investment also highlights the growing importance of Australia’s space industry. The Federal Government’s Statement on Space outlines five key areas for development: Trusted Space Services, Spaceflight Ecosystem, Space Platforms, Microgravity Ecosystem and Exploration Technologies. MP Space’s power technology supports all five areas by providing the reliable electricity needed to operate satellites, launch vehicles and lunar missions.
The funding round brings together Australian and international investors to support MP Space’s next stage of growth. It also reflects growing investor confidence in Australia’s space sector following the government’s release of its strategic plans for the industry.
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.”
Liza Noonan, CEO, Cicada Innovations said: “Cicada Innovations is delighted to see MP Space – a NSW Defence and Aerospace Hub resident and Cicada x Tech23 venture – reach such a significant milestone that demonstrates the capability Australia’s space industry possesses. The company’s evolution underscores the Hub’s value in advancing Australia’s space industry, providing the specialist support and facilities required to build successful ventures.”
Founded in January 2024 by former Tesla engineers Jay Manley, CEO, and Sam Paterson, CCO, MP Space has already had its technology selected for several space services and missions involving more than 500 spacecraft. As of October 2026, the company’s hardware is operating in orbit on multiple spacecraft.
MP Space has also been part of the National Defence and Aerospace Hub at Cicada Innovations for more than two years. The hub is supported by the New South Wales government and was formerly known as the National Space Industry Hub. On 9 September 2026, the company presented its work at Cicada x Tech23 in Sydney alongside other Australian deeptech startups.
