Trinity Capital Inc. Provides $30 Million in Growth Capital to Slingshot Aerospace
PHOENIX, September 12, 2024 -- 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.
Media Contact
Vibhor Garg
Managing Director, Marketing
Trinity Capital, Inc.
vgarg@trincapinvestment.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.
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The Slingshot Aerospace media kit, including photos, can be found HERE.
Media Contact
Neil Presicci
Sr. Product Marketing Manager
Slingshot Aerospace
n.presicci@slingshotaerospace.com