Muon Space, a Silicon Valley startup specializing in the development of small satellites for Earth monitoring, announced that it has raised a $56.7 million Series B investment. The funding round was led by Activate Capital with participation from Acme Capital and existing investors Costanoa Ventures, Radical Ventures and Congruent Ventures. The company plans to use the new capital to accelerate the development of its Halo low-orbit satellite platform and scale operations. Muon Space has already signed contracts with customers worth more than $100 million for its small satellites, which will be delivered in 2024. Concurrent with the funding announcement, Muon Space announced a new agreement with aerospace and defense contractor Sierra Nevada Corporation to produce three satellites for the Vindler commercial radio frequency remote sensing system. The first Vindler satellites are scheduled for launch in 2025. The satellites will be used to detect and geolocate certain objects from low-Earth orbit based on targeted radio frequency emissions. Sierra Nevada Corporation previously teamed up with Spire Global to launch the first four satellites of the planned Vindler constellation. Muon Space President Gregory Smirin said the Series B funding round “underscores investor confidence in Muon Space's technological and market potential. With this capital raise, Muon Space plans to scale operations, expand its product portfolio and continue pioneering developments in space sensing and analytics.” In May, Muon Space announced an agreement with non-profit organization Earth Fire Alliance to build a constellation of satellites focused on wildfire prevention and monitoring. The news of Muon Space's funding and new contracts demonstrates the growing interest in the small satellite industry and its potential for applications ranging from Earth monitoring to communications and navigation.