Aerospace

The Opportunity

The cost of reaching orbit has dropped 95% in the last two decades. What was once the exclusive domain of nation-states is now accessible to startups. The global space economy generated $546 billion in 2023 and is accelerating toward $1.8 trillion by 2035.

But the real opportunity isn't in space tourism or novelty. It's in the infrastructure that makes everything else possible — earth observation, communications, positioning, and the defense applications that governments will pay premium prices for.

The next wave of aerospace companies won't just go to space. They'll make space useful.

Our Thesis

We back founders building the picks-and-shovels layer of the space economy. Not the companies that make headlines — the companies that make the headlines possible.

Ivystone focuses on dual-use aerospace technology that serves both commercial and government customers. Companies that can win commercial contracts for revenue velocity and defense contracts for margin and durability. This dual-revenue model creates businesses that are both fast-growing and resilient.

We're particularly interested in founders who bring software-defined approaches to traditionally hardware-heavy problems. The companies that treat satellites as compute nodes, not just cameras in orbit.

Sub-Sectors We're Watching

• Small satellite manufacturing — Standardized, rapidly deployable satellite platforms that reduce per-unit costs and enable constellation-scale deployments
• Space-based earth observation — Hyperspectral, SAR, and multi-sensor imaging platforms that serve agriculture, insurance, defense, and climate monitoring
• Launch vehicle components — Propulsion systems, avionics, and structural components for the growing constellation of small launch providers
• In-space servicing and logistics — Refueling, debris removal, and orbital transfer vehicles that extend satellite lifespans and maintain orbital hygiene
• Counter-space and space domain awareness — Tracking, attribution, and defense systems for an increasingly contested orbital environment

Requests for Startups

1. AI-powered satellite tasking — Build an autonomous system that dynamically allocates satellite imaging capacity across customer requests, weather conditions, and orbital mechanics to maximize utilization and minimize revisit times.

2. Space debris tracking and removal — Active debris removal systems or comprehensive space situational awareness platforms. 36,000+ tracked objects in orbit and growing — this is a ticking clock.

3. Hyperspectral imaging analytics — Don't just capture hyperspectral data — build the vertical-specific analytics platforms that turn spectral signatures into actionable intelligence for mining, agriculture, or environmental compliance.

4. Satellite-as-a-service platforms — Software-defined satellite architectures where customers buy outcomes (coverage, resolution, latency) rather than hardware. Make space capability accessible to organizations that can't justify owning a satellite.

5. Reusable upper stages — The first stage reusability revolution is here. Now solve the second stage. Reusable or rapidly manufactured upper stages that reduce cost-per-kilogram to orbit by another order of magnitude.

6. Space-based communications for underserved markets — Low-latency satellite internet optimized for maritime, aviation, or remote industrial operations where terrestrial infrastructure doesn't reach.