Princeton Satellite Systems
About this raise
Princeton Satellite Systems, with a valuation of $12 million, is raising funds on Spaced Ventures. The company has created a fusion reactor that doubles as a fusion rocket for space applications. The product, PFRC, includes fusion propulsion and power in one device to transform deep space missions with increased payload, reduced trip time, and 200 times more available power. Princeton Satellite Systems has received NASA NIAC funding, and three DOE INFUSE awards in 2022. Michael Paluszek founded Princeton Satellite Systems in September 1992. The current crowdfunding campaign has a minimum target of $100,000 and a maximum target of $1.24 million. The campaign proceeds will be used to match federal investment and gather critical data for designing the next-gen superconducting machine.
Investment Overview
Invested : $111,376
Deal Terms
Total Commitments
- Platform
- Spaced Ventures
- Start Date
- 11/25/2022
- Close Date
- 04/30/2023
$100,000
$1,235,000
$150
Convertible Note
Early Stage
RegCF
$12,000,000
20%
Company & Team
Company
- Year Founded
- 1992
- Industry
- Transportation, Automotive, Aviation, & Aerospace
- Tech Sector
- Distribution Model
- B2B
- Margin
- Low
- Capital Intensity
- High
Financials
- Revenue -29.8% YoY
- $562,491
- Monthly Burn
- $8,553
-
Runway
- 3 months
- Gross Margin
- 29%
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $0
- Grants
- $600,000
- VC Backed?
- Yes
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 04/30/2023 | Spaced Ventures | $12,000,000 | $111,376 | Convertible Note | Funded | RegCF |