Space isn’t just the final frontier, it’s the next big economy. But for it to thrive, it needs more than rockets and satellites. It needs resources: fuel, metals, and materials to power the next generation of space exploration and industry. Right now, space operations depend entirely on Earth. Every component, every structure, every mission relies on materials extracted from our planet and launched at massive financial and environmental cost. That’s why we’ve invested in Karman+, a company rewriting the rules by sourcing materials from space itself.
The Problem
As the space economy expands, so does its demand for resources. The need for satellite servicing, deep-space exploration, and orbital manufacturing is accelerating, but the supply model is fundamentally flawed. Every kilogram of material used in space must first be extracted, processed, and launched from Earth, adding immense costs and constraints.
Even with recent technological advancements, rocket launches remain one of the most expensive and energy-intensive activities on the planet. The economics of this system do not scale. If space is to become a truly self-sustaining economy, we need a new way to source materials.
The Solution
Karman+ is changing the equation. Instead of transporting raw materials from Earth, they are tapping into a resource already abundant in space: near-Earth asteroids. These asteroids contain everything from water—which can be converted into rocket fuel—to the essential metals needed for construction.
Their upcoming High Frontier mission will be a first-of-its-kind demonstration of autonomous asteroid mining, proving that excavation can be done efficiently and cost-effectively in deep space. By extracting water from asteroids and converting it into propellant, Karman+ will redefine how spacecraft are refuelled and maintained. Instead of relying on Earth-based launches, satellites and deep-space missions will be able to access fuel exactly where they need it. This shift will cut refuelling costs by up to ten times, extend the lifespan of valuable assets in orbit, and enable longer, more ambitious space missions.
Asteroid mining also unlocks the next phase of space industrialisation. From in-orbit construction to pharmaceutical research in microgravity, the space economy is poised for exponential growth—but only if it has access to sustainable, scalable resources. Karman+ is taking that giant leap for mankind.
Where the Funding Will Go
Karman+ has raised $20 million in seed funding, led by Plural and Hummingbird. The funding will be used to develop its first technology demonstration mission and pave the way for its first customer missions, expected in 2027.
This marks a critical step in proving that asteroid mining is not just possible, but commercially viable.
The Future
At Norrsken VC, we back companies that will define the next economy. The space industry is projected to exceed $1 trillion by 2040, but its full potential cannot be realised if it remains tethered to Earth’s limited and costly supply chains.
Karman+ is solving one of the biggest constraints in space exploration. By removing the cost, risk, and environmental impact of Earth-based resource extraction, they are opening the door to a truly sustainable, off-world economy.
We’re proud to welcome the Karman+ team to the Norrsken VC family!
