Fleet Space
Adelaide, AU Β· 8 known investors
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Fleet Space is a space exploration company that operates satellites and an in-house geoscience team to advance mineral exploration on Earth, the Moon, and Mars. It combines geophysics and geology expertise with space technology to solve challenges in resource exploration.
Also known as Fleet Space Technologies
Founders & leadership
Investors Β· 8
Also in the syndicate Β· 3
Valuation Β· disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed β follow each entry's link for the claim.
Company profile
researched Aug 2026Fleet 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.
βΈFull profile β market position, technology, go-to-market, geography, history
Market position
Fleet Space describes itself as Australia's leading space exploration company and states that 54% of tier 1 miners use Fleet, with 400+ projects delivered globally and 40+ customers across five continents. It was ranked #1 on the AFR's Australia's Fastest Growing Company list in 2023. Named users cited on its site include Rio Tinto, Barrick Gold, Ma'aden and Inflection Resources.
Fleet Space emphasises vertical integration of acquisition, processing and interpretation in one seismic-led workflow, combining its own satellite connectivity, edge-processed multiphysics sensors and AI modelling to shorten survey-to-model turnaround (as little as 48 hours) with low environmental footprint and minimal ground disturbance, in contrast to multi-vendor workflows where geophysics, geology and interpretation are reconciled after the fact.
Technology
The platform couples ultra-sensitive ambient noise tomography nodes (described as 3-10x more sensitive than standard sensors, imaging to 7 km depth) with HVSR, MEMS-based gravimeters, magnetotellurics with no-dig capacitive electrodes, natural source-field IP and active seismic. Edge processing and in-node quality control feed data over the company's satellite telemetry into a unified 3D model enhanced by machine learning. Fleet Space states it has launched eight satellites, including the Proxima and Centauri series; Centauri-4 was reprogrammed as a voice-enabled satellite and Centauri-6 launched on SpaceX's Bandwagon-1 mission. SPIDER applies the same ambient noise tomography approach to the lunar surface.
Go-to-market
The company markets directly to mining and exploration operators and partners with geoscience teams on individual projects, supported by named customer engagements with large miners and by memoranda of understanding with national geoscience bodies such as France's BRGM. Government and space agency contracts provide an additional channel for its off-world technology.
Mineral exploration and mining companies, from junior explorers to tier 1 miners, plus national geological surveys, defence agencies and space agencies.
Geography
Headquartered in Adelaide, Australia, Fleet Space states it expanded its global footprint over the year to December 2024 to the United States, Canada, Chile and Luxembourg, with surveys deployed across five continents including Australia's Macquarie Arc and Chile's Atacama region, and project work referenced in Pakistan (Reko Diq) and Saudi Arabia.
History
According to the company, two founders β a rocket scientist and an entrepreneur β met in 2013 and Fleet Space Technologies was established in 2015. In 2018 it launched Australia's first four commercial nanosatellites, Proxima 1 and 2 and Centauri 1 and 2, into low Earth orbit over three weeks. In 2021 it raised a Series B and launched its fifth and sixth satellites under the Centauri program. ExoSphere by Fleet launched in 2022. In 2023 the company secured an AUD 6.4 million contract with Australia's Defence Space Command (its first defence contract), raised AUD 50 million in Series C funding, and was awarded an AUD 4 million Australian Space Agency contract under the Moon to Mars: Demonstrator program for SPIDER. In 2024 Centauri-4 was reprogrammed to become what the company describes as the world's smallest voice-enabled satellite, Centauri-6 launched on SpaceX's Bandwagon-1 mission, and the company closed a A$150M Series D in December.
Compiled by commissioned research from 8 cited public sources β announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed β not independently audited.
Founder mafia
2 people who came through Fleet Space went on to found or lead other companies.
Timeline Β· 16
launches, deals, and filingsSPIDER will be deployed by tether from Firefly's Blue Ghost lander to record lunar seismic waves and search for water ice; described as the first Australian seismic technology to land on the Moon.
Joint development of a real-time MEMS gravimeter system transmitting processed field data via satellite.
Series D led by Teachers' Venture Growth, the late-stage venture and growth arm of Ontario Teachers' Pension Plan, with existing investors Blackbird Ventures, Hostplus, Horizons Ventures, Artesian Venture Partners and Alumni Ventures. Reported as US$100M at a US$525M valuation; proceeds to expand the ExoSphere exploration platform.
$100M source β
Company reported 130+ employees worldwide supporting ExoSphere deployments across five continents.
Joint work to advance off-world research for planning future Moon and Mars missions.
Includes the world's largest real-time 3D imaging survey in Australia's Macquarie Arc and the highest-altitude real-time 3D imaging survey in Chile's Atacama region; Rio Tinto lithium exploration at Rincon and Barrick's Reko Diq project in Pakistan are cited.
Fleet Space states Centauri-4 became the world's smallest voice-enabled satellite.
AI-powered exploration product using proprietary multimodal models to predict opportunity zones and potential mineralisation targets.
Grant supporting development of SPIDER, a geophysical device for lunar and Martian exploration, aligned with NASA's Artemis program.
Fleet Space's first defence contract.
Introduction of the company's end-to-end mineral exploration platform.
Proxima 1 & 2 and Centauri 1 & 2 entered low Earth orbit over a three-week period.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
βΈResearch sources Β· 8
primary sources listed
- Fleet Spacefleetspace.com Β· web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Fleet Space do?
- Australian space company using satellites, seismic sensors and AI for 3D subsurface imaging in mineral exploration.
- Who founded Fleet Space?
- Fleet Space was founded by Flavia Tata Nardini.
- Who are Fleet Space's investors?
- Fleet Space's investors include Artesian, In-Q-Tel, Momenta Ventures, SecondQuarter Ventures, OneVentures.
- Where is Fleet Space headquartered?
- Fleet Space is headquartered in Adelaide, AU.