It’s been a busy start to July for Montreal-based NorthStar Earth & Space who announced today new financing as well as formalizing their acting Chief Financial Officer, and last week said it demonstrated their Concept of Operations (CONOPS).
In a news release NorthStar said it had secured and undisclosed amount of shareholder financing from Telesystem Space, a Montreal based founding partner in the company. The other founding partner was KinetX from Arizona.
Telesystem Space had previously been part of NorthStar fundraising including most recently for their Series C ($47M) and Series D ($20M). Telesystem Space is a venture between Telesystem and the Rogers Private Companies.
NorthStar stated that the “financing will enable NorthStar to accelerate its product development activities related to its unique patented space-based Space Situational Awareness (SSA) Concept of Operations (CONOPS), which supports critical space security with the US Government and other allies.”
With respect to CONOPS, in a separate release, the company stated it “has fully validated its unique end-to-end Concept of Operations (CONOPS) using its dedicated space-based imagery system. In addition, NorthStar received a US patent for this CONOPS and has filed for two additional patents related to advanced simulation and data analytics involving image preprocessing, calibration, detection & measurements of orbits.”
NorthStar added that in “Employing a wide field of view (WFoV) monitoring of near-Earth orbits, NorthStar covers gap areas previously inaccessible with current ground-based systems. NorthStar simultaneously monitors LEO, MEO, HEO and GEO orbits while operating over denied territories, and maintaining high resiliency against external influences such as weather or geographic constraints.”
Along with today’s financing announcement, the company said that Beth Michelson was the new Chief Financial Officer (CFO). Michelson had been acting CFO since earlier this year. Michelson has also been a board member since January 2023.
According to NorthStar, Michelson is also a “Partner with Cartesian Capital Group, a New York City-based global private equity firm that has been an investor in NorthStar since December 2022. She has been with Cartesian since its inception in 2006 and has more than twenty years of experience building businesses globally.”
