PHOENIX, Sept. 12,
2024 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ:
TRIN) ("Trinity"), a leading provider of diversified financial
solutions to growth-oriented companies, today announced the
commitment of $30 million in growth
capital to Slingshot Aerospace ("Slingshot"), a leader in
AI-powered solutions for satellite tracking, space traffic
coordination, and space modeling and simulation.
Based in El Segundo, CA,
Slingshot builds mission-critical solutions for training, planning,
and operations by creating a common operating picture of the entire
space domain. Slingshot's platform provides a unified, holistic,
and dynamic view of space for government and commercial space
operators to enhance their space situational awareness, improve
their operational efficiency, and reduce risk on orbit.
"As space becomes more crowded, platforms like Slingshot are
becoming increasingly vital to conducting in-orbit operations,"
said Ryan Thompson, Managing
Director, Tech Lending at Trinity. "We are thrilled to partner with
the team at Slingshot, whose innovative technology, data, and
insights strive to make space safer and more secure."
The new debt facility from Trinity will allow Slingshot to
continue to scale operations and fund key growth initiatives.
"Trinity is the ideal partner for Slingshot as we rapidly scale
our business to meet the market demand for our solutions," said
Tim Solms, CEO of Slingshot
Aerospace.
About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed
business development company, is a leading provider of diversified
financial solutions to growth-stage companies with institutional
equity investors. Trinity Capital's investment objective
is to generate current income and, to a lesser extent, capital
appreciation through investments, including term loans and
equipment financings and equity-related investments. Trinity
Capital believes it is one of only a select group of specialty
lenders that has the depth of knowledge, experience and track
record in lending to growth stage companies. For more information,
please visit the Company's website at www.trinitycap.com.
About Slingshot Aerospace
Slingshot Aerospace provides government and commercial partners
around the world with AI-powered solutions for satellite tracking,
space traffic coordination, and space modeling and simulation. The
Slingshot Platform transforms disparate space data into a common
operating picture of the space domain by leveraging advanced space
object tracking, artificial intelligence, astrodynamics, and data
fusion. Slingshot's platform combines data from the Slingshot
Global Sensor Network, the Slingshot Seradata satellite and launch
database, satellite owner-operators, and other third-party space
data providers to create a holistic and dynamic view of space for
training, planning, and operations. This unified representation of
space activities – past, present, and predicted – enhances
operators' space situational awareness, improves operational
efficiency, and reduces risk for space operators. Slingshot is
driven by its mission to make space safe, sustainable, and secure.
The company was launched in 2017 and has locations in California, Colorado, and the UK.
Visit slingshot.space and follow Slingshot Aerospace
on X and LinkedIn for the latest company
updates..
The Slingshot Aerospace media kit, including photos, can be
found HERE.
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SOURCE Trinity Capital Inc.