Fleet Space

Fleet Space Technologies is an Adelaide, Australia-based company that combines a proprietary low Earth orbit satellite network, ground-based geophysical sensors, edge computing and artificial intelligence to deliver 3D subsurface imaging for mineral exploration. Its core product, ExoSphere by Fleet, is presented as an end-to-end exploration platform that integrates data acquisition, real-time processing and modelling so that explorers can move from prospect definition to drill-ready targets, with the company positioning its approach as seismic-led and built specifically for hard-rock mineral systems rather than adapted from oil and gas workflows.

The ExoSphere toolkit spans several geophysical methods: ambient noise tomography (ANT) combined with HVSR for passive seismic imaging to depths of up to 7 km, MEMS-based gravity systems developed with partner Silicon Microgravity, magnetotellurics using capacitive electrodes and compact magnetometers, an emerging natural source-field induced polarisation method targeting chargeability imaging beyond 1 km depth, and active seismic. Data is quality-controlled at the node and relayed by satellite telemetry, with turnaround from deployment to modelling stated as being as fast as 48 hours. Company solutions are organised around project generation, target definition, drill testing and resource delineation.

Alongside terrestrial exploration, Fleet Space develops space exploration technology. SPIDER (Seismic Payload for Interplanetary Discovery, Exploration and Research), a lunar variant of its seismic sensing technology, is designed to record natural seismic waves such as moonquakes and meteorite impacts to search for water ice and characterise the lunar regolith, and is scheduled to be deployed by tether from Firefly Aerospace's Blue Ghost lander in 2026. The company also collaborates with MIT Media Lab's Space Exploration Initiative and has worked with NASA on off-world research in the Arctic Circle.

Founding story

Fleet Space was co-founded by Flavia Tata Nardini, a former propulsion engineer at the European Space Agency, and aerospace entrepreneur Matt Pearson, who serves as Chief Exploration Officer. The company states the pair met in 2013 with a shared ambition to explore space and formally founded the business in 2015 to apply space exploration technologies to challenges including decarbonisation and the energy transition.

Business model

Fleet Space sells exploration services and data products to mining and exploration companies, deploying its own sensor hardware and satellite network to acquire geophysical data and delivering processed 3D subsurface models, ranked drill targets and AI-derived predictive insights through the ExoSphere platform. It also undertakes government-funded space work, including a grant from the Australian Space Agency for the Moon to Mars: Demonstrator program and a contract with Australia's Defence Space Command.

Revenue is generated from commercial exploration surveys and platform-delivered subsurface modelling and targeting for mining customers, supplemented by government contracts and grants, including an AUD 6.4 million Defence Space Command contract and an AUD 4 million Australian Space Agency award.

Traction

As of its About page, Fleet Space reported 120+ crew members, eight satellites launched, 300+ ExoSphere surveys deployed and 40+ global customers; the December 2024 Series D release cited 130+ employees and 40+ exploration company customers across five continents. Its homepage cites 400+ projects delivered, 500,000+ metres of drill programs de-risked and use by 54% of tier 1 miners. Reported deployments include the world's largest real-time 3D imaging survey in Australia's Macquarie Arc and the highest-altitude such survey in Chile's Atacama region.

Latest developments

In December 2024 Fleet Space closed a A$150 million (reported as US$100 million) Series D led by Teachers' Venture Growth at a valuation of A$800M+ (reported as US$525 million), stating proceeds would expand ExoSphere's capabilities. The company also launched ExoSphere Discovery, an AI-powered product using proprietary multimodal models to predict prospective zones and targets, unveiled a full duplex SATCOM system using microsatellites, and signed an MoU with BRGM to advance national geoscience programmes. SPIDER is scheduled to fly on Firefly Aerospace's second lunar mission in 2026.