Bellevue, Wash.-based Lumen Orbit, a startup that’s only about three months old, says that it’s closed a $2.4 million pre-seed investment round to launch its plan to put hundreds of satellites in orbit, with the goal of processing data in space before it’s downloaded to customers on Earth.
The investors include Nebular, Caffeinated Capital, Plug & Play, Everywhere Ventures, Tiny.vc, Sterling Road, Pareto Holdings and Foreword Ventures. There are also more than 20 angel investors, including four Sequoia Scouts investing through the Sequoia Scout Fund. “The round was 3x oversubscribed,” Lumen CEO and co-founder Philip Johnston told GeekWire in an email.
Johnston is a former associate at McKinsey & Co. who also co-founded an e-commerce venture called Opontia. Lumen’s other co-founders are chief technology officer Ezra Feilden, whose resume includes engineering experience at Oxford Space Systems and Airbus Defense and Space; and chief engineer Adi Oltean, who worked as a software engineer at SpaceX’s Starlink facility in Redmond, Wash.
“We started Lumen with the mission of launching a constellation of orbital data centers for in-space edge processing,” Oltean explained in an email. “Essentially, other satellites will send our constellation the raw data they collect. Using our on-board GPUs, we will run AI models of their choosing to extract insights, which we will then downlink for them. This will save bandwidth downlinking large amounts of raw data and associated cost and latency.”