Australian space power start-up MP Space secures AU$23M Seed round to scale local manufacturing, backed by global investors
Sydney-based space power technology company MP Space has closed a $23 million (US$16 million) Seed round led by Blackbird, with Seraphim Space, the world’s most prolific investor in space, making its first-ever investment in an Australian company.
The raise, one of the largest seed rounds for an Australian deep technology company, will enable MP Space to scale local manufacturing, expand its range of power-system platforms, and grow its Australian engineering team.
The investment highlights the strategic importance of the Federal Government’s Statement on Space, which sets out the national focus areas: Trusted Space Services, Spaceflight Ecosystem, Space Platforms, Microgravity Ecosystem and Exploration Technologies. MP Space’s power infrastructure underpins each of the five areas, supplying the reliable, fit-for-purpose power every satellite, launch vehicle and lunar mission depends on to operate. The scale of the seed round reinforces the increased confidence investors have in Australia in the wake of the Federal Government releasing the strategic agenda for the space industry.
The round was led by Blackbird, with participation from Systemiq Capital, Seraphim Space, Speedinvest and MFV Partners, bringing together Australian and international investors to support MP Space’s next phase of growth.
Founded in January 2024 by former Tesla engineers Jay Manley (CEO) and Sam Paterson (CCO), MP Space has already been designed into several space services and missions, totalling more than 500 spacecraft, with its hardware in orbit in October 2026 on multiple spacecraft.
MP Space has been a resident of the NSW Government-backed National Defence and Aerospace Hub (formerly National Space Industry Hub) at Cicada Innovations for over two years, presenting at Cicada x Tech23 in Sydney on 9 September 2026 alongside this year’s cohort of Australian deep-tech ventures.
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 businessline. 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.”
Background
- MP Space is a Sydney-founded space power technology company founded in 2024 developing hardware and software to give the space industry sophisticated, reliable and cheap power at an industrial scale.
- Existing and new investors in the round include Blackbird, Seraphim Space, Systemiq Capital, MFV Partners and Speedinvest.
- Jay Manley spent eight years across Tesla’s Powertrain and Energy engineering team in the Bay Area, including on Powerwall 2 and 3, before relocating to Sydney in 2021 to work remotely.
- Sam Paterson delivered multiple generations of Tesla’s Model S, X and 3 battery packs, and held Technical Program Management roles at Apple, Zoox and Sydney biotech manufacturing company Vow, before co-founding MP Space.
- MP Space is a resident of the NSW Defence & Aerospace Hub at Cicada Innovations, formerly known as the National Space Industry Hub.
In the press
SpaceNews – Former Tesla engineers raise $16 million for satellite battery startup
Forbes Australia – Ex-Tesla duo’s startup lands one of Australia’s biggest space seed rounds
The Australian – Ex-Tesla engineers raise $23m for space batteries
Capital Brief – MP Space raises $23m in seed round led by Blackbird
Startup Daily – Satellite batteries startup MP Space takes off with $23 million Seed round
Space Connect – Sydney’s MP Space secures $23m seed round to scale local manufacturing
Dealroom – MP Space raises $16M seed led by Blackbird to build spacecraft batteries
Media contacts:
Eachainn Miller: eachainn@kickercomms.com
Nicholas Chilton: nicholas@mpspace.io