Assembly Line

Space Resources Startup Interlune Raises $18 Million in Seed Capital

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Interlune, Seven Seven Six

Interlune, a natural resources company, emerged from stealth announcing that it has raised funding to further develop and operationalize technology to extract Helium-3 and other natural resources from the Moon. The funding is an essential milestone for Interlune in pursuing its mission to lead the world in sustainable, responsible harvesting and distribution of natural resources from space to benefit humanity.

Alexis Ohanian’s venture firm Seven Seven Six led the most recent round of $15 million, adding to previous angel investments. Katelin Holloway, founding partner of Seven Seven Six, will join the Interlune board of directors. Other investors include Aurelia Foundry Fund, Gaingels, Liquid 2 Ventures, Shasta Ventures, and a committed group of University of Michigan alumni.

Interlune will initially focus on extracting and transporting lunar Helium-3 back to Earth for use by commercial and government customers in national security, quantum computing, medical imaging, and fusion energy markets. Helium-3, an isotope of Helium, is extremely scarce on Earth but abundant on the Moon. Government and industry have been looking for a new and scalable source of Helium-3 since the U.S. government recognized a severe shortage around 2010. In time, Interlune will harvest other resources such as industrial metals, rare Earth elements, and water to support a long-term presence on the Moon and a robust in-space economy.

Read more at PR Newswire