Arizona company raises $5M to try to become the “Henry Ford of Space”

Tucson-based startup Phantom Space recently raised $5 million in seed investments in order to fund their ultimate goal to become the “Henry Ford of Space.” 

Talk about ambition.

Remember Henry Ford? He founded Ford Motor Company and introduced the Model T, which was the first car that middle-class Americans could afford. He developed the assembly line process that significantly improved mass production. With these breakthroughs and Ford’s obsession with lowering costs, his company revolutionized the future of American transportation and industry. Oh, and he became one of the richest people in the world. 

How on earth does Phantom Space plan to become like Henry Ford? Well, one of the reasons they believe they can is because they won’t be on earth. Instead, they want to use some of Ford’s strategies, like mass production, to revolutionize space transportation.

Phantom Space develops and manufactures space transportation technology aimed at democratizing space access and making space commerce as common as a Ford Mustang.

The company plans to mass manufacture small rockets, satellites and space propulsion systems that would work similarly to an airplane’s thrust. Phantom Space believes that the need to effectively access space and take advantage of on-orbit capabilities has largely been unmet. But mass manufacturing production can help meet this need. 

But don’t we already have SpaceX? Phantom Space notes in a press release that competitors can only conduct several dozen launches a year. Instead, Phantom will allow for  hundreds of launches, thanks to their manufacturing methods and launch sites located all over the world. 

Phantom Space has acquired StratSpace, another Arizona-based company. The acquisition allows Phantom to take advantage of StratSpace space system development and flight hardware. StratSpace has already had 46 successful space missions. 

The company plans to use the new seed money to expand its 26-person team by hiring engineers, scientists, technicians and managers. These positions will be necessary to Phantom’s mission to secure more launch sites, prepare for its first launch of the company’s Daytona Rocket and build four “launch vehicle development units” to hopefully be launched in early 2023. 

Phantom Space also is establishing several government partnerships. They are currently building an imaging satellite for a commercial customer that will be used for United States Department of Defense core missions

“We are proud of our contrarian approach to building rockets and other space transportation technology,” says Jim Cantrell, CEO & Co-Founder of Phantom Space Corporation. “At Phantom, to achieve rapid time to market and enabling mass manufacturing, we are leveraging mature supply chains in addition to our own innovations. This allows us to get to orbit faster than ever thought possible.”