Magnestar

Magnestar Inc. is a Toronto-based software company building radio frequency spectrum management technology for satellite operators. Its core product, 24/7x, aggregates satellite spectrum data, simulation models and coordination workflows so operators can run continuous interference simulations across their networks, automatically ingest new international spectrum filings, search spectrum databases, track filing deadlines, and compare simulation results against embedded radio regulations and thresholds.

The company frames the problem as a growing "noise" issue: more than 10,000 satellites currently in orbit depend on a finite and interference-prone radio spectrum, and the projected growth toward 100,000 satellites increases the likelihood of interference and outages. Coordination between operators — required, for example, under the FCC's processing-round framework in the United States — is described as costly and time-intensive, with few tools to verify that coordination agreements are being complied with after they are signed. Magnestar's platform performs interference simulations and calculations such as signal-to-noise ratio, catalogues coordination agreements, and embeds a "peer-to-peer" operator sandbox in which operators can exchange standardized data and complete coordination directly.

Beyond coordination, the company describes an ambition to act as a "clearing house" for Earth-to-space communication pathways and, eventually, a marketplace for spectrum sharing and short-duration spectrum subleasing. It is also working with the University of Regina in Saskatchewan on a small satellite component intended to identify the source of RF interference in orbit and feed that data into the platform.

Founding story

Jacqueline Good, a data specialist who spent roughly a decade in data infrastructure roles — including as lead Canadian Solutions Engineer at TIBCO Software and as a director of data strategy/product management (Data & Technology Director) at Ontario pension fund OMERS — pivoted to space in 2021. Sponsored by the European Space Agency, she was accepted to and completed the International Space University's nine-week Summer Studies Program in space engineering, where she studied threats to satellites including debris and RF interference. She founded Magnestar in December 2021, reasoning that the clearing-house model used in financial markets could be applied to clearing communication pathways between Earth and space. She connected with more than 25 satellite operators in the company's first six months, who consistently cited signal interference, coordination bottlenecks and post-coordination monitoring as problems.

Business model

Magnestar sells enterprise software to satellite operators. Its plan, as described in 2023, was to move beta users into an early adopter program allowing up to 10 operators to trial 24/7x for two to three months, then convert them into full licenses billed monthly or annually. Longer term the company describes a marketplace/clearing-house model in which operators could share or sublease unused spectrum through the platform, and a hardware component (developed with the University of Regina) that would be added to satellites and feed data back into the platform.

Software licensing: operators trialing the platform through an early adopter program were intended to convert to full licenses paid monthly or annually. The company also describes a future marketplace/exchange in which operators could sublease excess spectrum through the platform.

Traction

By late 2023 the company had raised $1.1M pre-seed, had five full-time and three part-time employees (elsewhere described as a nine-person team), had connected with more than 25 satellite operators in its first six months and interviewed over 1,000 people in the space sector. It was beta testing its platform with an early adopter program planned for up to 10 operators in February 2024, and its founder's Startupfest bio states multiple commercial and military contracts had been signed. Recognition includes Startupfest 2022 Best of Fest and Best Pitch, the SATELLITE 2023 Startup Award, a top-6 finish at TechCrunch Disrupt 2023, and completion of Entrepreneur First, Techstars (with the Saudi Space Commission) and Creative Destruction Lab's Space Stream.

Latest developments

As of September 2023 Magnestar was beta testing 24/7x, preparing a February 2024 early adopter program for up to 10 operators, and raising a full seed round following its $1.1M pre-seed. Its website lists speaking engagements into 2024 (SATELLITE 2024, SmallSat Symposium 2024), and the founder was scheduled to speak at HardtechFest in July 2025 as Magnestar's Founder & CEO. A Startupfest bio states the company has signed multiple commercial and military contracts.