AstroForge, the California-based asteroid mining startup, has raised $40 million in Series A funding. The round was led by Nova Threshold with participation from 776, Initialized Capital, 468 Capital, Y Combinator, Uncorrelated Ventures and Jed McCaleb. The new capital will propel AstroForge toward its next major milestone, Mission 3: Vestri.
With a focus on developing a cost-effective and sustainable space mining solution to replenish Earth’s resources and protect the planet’s future, AstroForge is leveraging insights from its earlier missions to build the Vestri spacecraft entirely in-house. Scheduled to launch in 2025 via Intuitive Machines’ third lunar mission rideshare, this mission marks another crucial step in the company’s journey.