Asteroid mining startup Karman+ has raised $20 million in seed funding to develop its autonomous spacecraft capable of traveling to asteroids and extracting valuable resources. The company aims to mine water from regolith, extract rare metals, and contribute to the development of a wider space manufacturing ecosystem.
Led by co-founder and CEO Teun van den Dries, Karman+ has roots in The Netherlands and is backed by investors including London-based Plural, Antwerp-based Hummingbird, and HCVC. The startup plans to launch its first spacecraft in 2027 for $10 million or less, significantly reducing the costs associated with previous asteroid missions.
Karman+’s mission is ambitious, aiming to build a vessel that can travel to asteroids millions of miles away, mine them, extract water, and refuel space tugs. The company believes this could unlock new possibilities in space exploration and manufacturing, potentially generating single-digit billions of dollars in revenue per year.
Despite the skepticism surrounding asteroid mining, Karman+ co-founder Teun van den Dries is confident in his approach. “I wanted something that was under-invested,” he said, highlighting the potential cost efficiency of asteroid mining compared to traditional space missions.
The startup faces several challenges, including the completion and testing of its spacecraft, navigating the complexities of asteroid orbits, and developing refueling technologies. However, with a detailed plan in place and a strong team, Karman+ is poised to make significant strides in the field of asteroid mining.
Source: https://techcrunch.com/2025/02/19/karman-digs-up-20m-to-build-an-asteroid-mining-autonomous-spacecraft