ORLANDO, Fla. — True Anomaly, a startup based in Denver, announced Dec. 12 it has raised $100 million in a Series B funding round. 

The round was led by Riot Ventures with participation from Eclipse, ACME Capital, Menlo Ventures, Narya, 645 Ventures, Rocketship.vc, Champion Hill Ventures and FiveNine Ventures. 

“This financing enables continued investment in people, products, and services to further advance True Anomaly’s mission,” said co-founder and CEO Even Rogers. 

True Anomaly is producing small satellites designed for surveillance and reconnaissance of objects in space, aimed at the military and intelligence markets. The company in August unveiled a 35,000 square-foot facility in Centennial, Colorado. It has doubled its staff from 50 to more than 100 employees.

Building Jackals

Founded in 2022, True Anomaly designed a spacecraft, called Jackal, for rendezvous and proximity operations, and in-space surveillance missions.

 The company also offers training services for military satellite operators.

“A responsive and agile defense industrial base is essential to provide the tools for deterrence and global security,” said Rogers. “Space is the newest and most vulnerable theater of contemporary global competition, but the U.S. and its allies are ill-equipped for a conflict that begins in or extends into space.”

Will Coffield, co-founder and general partner at Riot Ventures, said “doubling down in this round is a reflection of the exceptional execution we’ve witnessed over the last two years. The U.S. and its allies face intense national security challenges in the space domain, and we believe True Anomaly is going to be the company that delivers the core set of capabilities to offset those threats.”

Seth Winterroth, partner at Eclipse, said the Series B funding “validates True Anomaly’s traction, and also illustrates the team’s ability to scale, execute on product delivery.”

The company said the first two Jackal satellites have completed build, assembly, and integration and are scheduled to launch aboard SpaceX’s Transporter-10 rideshare mission no earlier than March 1, 2024. 

Sandra Erwin writes about military space programs, policy, technology and the industry that supports this sector. She has covered the military, the Pentagon, Congress and the defense industry for nearly two decades as editor of NDIA’s National Defense...