Australian Space Power Start-Up MP Space Secures AU$23M Seed Round to Scale Local Manufacturing

MP Space, building the hardware driving the space industrial era, led by Jay Manley and Sam Paterson, has secured a $23 million (US$16 million) Seed round led by Blackbird, with Seraphim Space, Systemiq Capital, Speedinvest and MFV Partners. 

The funding round, one of the largest seed raises for an Australian deep-tech company, will help MP Space expand local manufacturing, broaden its power-system platforms, and grow its Australian engineering team.

The investment aligns with Australia’s national space strategy, which identifies five priority areas spanning space services, platforms, launch capabilities, microgravity, and exploration. MP Space’s power systems support these areas by providing reliable energy for satellites, launch vehicles, and lunar missions, reflecting growing investor confidence in Australia’s space sector.

Founded in January 2024 by former Tesla engineers Jay Manley (CEO) and Sam Paterson (CCO), MP Space has been selected for space services and missions involving more than 500 spacecraft, with its hardware in orbit across multiple spacecraft as of October 2026.

The company has been based at Cicada Innovations’ NSW Government-backed National Defence and Aerospace Hub for over two years and presented at Cicada x Tech23 in Sydney in September 2026 alongside other Australian deep-tech startups.

Jay Manley, CEO and Co-Founder, MP Space said: 

“Our thesis is simple: the next generation of spacecraft will need a lot more power, and the space industry needs better ways to generate, store and manage it. 

“We’ve seen enormous advances in power electronics, software and energy storage through electric vehicles, grid-scale energy and home batteries. MP Space is bringing that same advanced technology to spacecraft power systems, designed from the outset to be manufactured reliably and at scale. 

This raise reflects the customer demand we’re already seeing and gives us the capital to accelerate. Over the next 12 months, our focus is expanding manufacturing capacity, scaling  the team, and delivering power systems for the next generation of spacecraft and constellations.”

Samantha Wong, Partner at Blackbird, said: 

“At Blackbird, our investment conviction starts with the founding team. Jay and Sam have gone from solar racecar clubs at uni to industry-leading capability in scalable battery system design,  having built Tesla’s Powerwall from electrons to a $10 billion business line. The same energy management evolution will happen in space, and we believe MP Space has a shot at revolutionising this fast-growing industry. 

“In less than two years, MP Space has already delivered a software-defined battery, with one of the highest gravimetric energy densities of any space battery, and will gain flight heritage this month. They are moving with speed and precision in a market that has explosive potential.

“As space unlocks more use cases, MP Space is well-placed to seize the opportunity with an indisputable hardware advantage and deep software capabilities. It’s an Aussie business redefining the global standard. These are the types of businesses we are proud to back.”  

Lucas Bishop, Vice President at Seraphim Space, said: 

“We’re excited to back Jay Manley, Sam Paterson and the broader MP Space team as they build the next generation of spacecraft power systems. Drawing on their experience scaling some of the world’s most demanding energy and power hardware programmes at Tesla, the team is exceptionally well placed to address two fundamental challenges facing the space industry. 

“Power is a fundamental constraint on spacecraft capability, and we are seeing power requirements scale rapidly across almost every mission type. More available power directly enables more capable payloads, greater onboard processing and, ultimately, more ambitious missions. 

“Separately, the industry lacks proven, independent suppliers capable of delivering critical hardware reliably and at scale. This has made vertical integration a necessity rather than a choice for spacecraft manufacturers. By replacing bespoke, high-cost and low-volume systems with reliable, cost-effective and off-the-shelf power hardware, MP Space can help reverse this historical over-reliance on vertical integration. 

“We believe this positions MP Space to become a foundational supplier to the next generation of spacecraft, and we’re delighted to support the team on that journey.” 

Dan Lloyd, CEO, Space Industry Association of Australia, said:

“The Space Industry Association of Australia (SIAA) is delighted to see one of our members, MP  Space, moving forward so quickly to commercialise such a strategic niche which underpins the success of the entire industry. We can get fixated on the many visually impressive technologies in the space industry, especially rockets and satellites, but we cannot forget that in the end our economic resilience and Future Made in Australia will depend upon our ability to build, maintain and replenish the critical inputs, such as reliable, fit-for-purpose and efficient power systems. 

“The momentum that Australia is building across the sector right now is demonstrating that government, industry and the international markets all recognise the unique potential for  Australia in space. We have unparalleled clear skies, massive open test facilities, and top global engineering talent. With the Ministerial Statement on Space and the raft of activity across  National Security and Defence, Australia is rapidly developing the policy vision which will drive  there.” 

Liza Noonan, CEO, Cicada Innovations said: 

“Cicada Innovations is delighted to see MP Space – a NSW Defence and Aerospace Hub resident and Cicada x Tech23 venture – reach such a significant milestone that demonstrates the capability Australia’s space industry possesses. 

“The company’s evolution underscores the Hub’s value in advancing Australia’s space industry,  providing the specialist support and facilities required to build successful ventures.”