- Phantom Space Corporation, a Tucson, AZ-based space transportation technology development and manufacturing company, raised $5m in seed funding
- The round was led by Chenel Capital
- The company intends to use the funds to expand its team of engineers, scientists, technicians and managers and its business reach
- Phantom Space is a space transportation company mass manufacturing launch vehicles, satellites, and space propulsion systems
- The company is currently building its first launch vehicle development unit in preparation for stage level testing late this year
- The company recently acquired StratSpace, an Arizona-based company that develops space systems and flight hardware, leads space market forecasting
