SAN FRANCISCO - Space startup veteran Mark Matossian has joined forces with a software engineer and a best-selling author to establish Whipsmart Ventures, a venture capital fund focused on space and deep tech. Because apparently, the universe isn't the only thing expanding - the funding gap between lab and scale-up needed a little help too.
Whipsmart will identify “pivotal technologies that can close a business plan” and help companies make the leap from laboratories to scaling up, said Matossian, who led Iceye U.S., program management, satellite production and launch for Terra Bella, and co-founded Lonestar Data Holdings. That's a resume that screams: "I've seen startups stall, and I'm not about to let that happen on my watch."
Matossian co-founded Whipsmart earlier this year with Lylan Masterman, a software developer and technology executive who became a venture capitalist in 2014, and Judy Robinette, corporate leader, venture capitalist and author of “How to be a Power Connector” and “Cracking the Funding Code.” Because nothing says "deep tech" like a book on networking.
Space technology companies raised $7.5 billion in the second quarter of 2026, according to the Seraphim Space Index. Still, startups often struggle to cross the so-called “Valley of Death” between proving their technology in a laboratory and reaching commercial scale. It's like the Kessel Run, but with more spreadsheets and fewer smugglers.
“I’ve lived this through a number of startups,” Matossian said. “There is pre-seed and seed money out there, and there’s funding for Series B and beyond. The middle ground has been insufficiently funded.” In other words, the Series A-shaped hole in the funding universe is about to get plugged.
Whipsmart will lead and co-lead investment rounds for companies with 10 to 20 employees. “Maybe they’ve done a prototype flight,” Matossian said. “But do they have the final product-market fit? And can they turn the corner of that inflection point and go to scale?”
“It’s the classical definition of Series A,” said Masterman. Because sometimes the old ways are the best ways, even when you're shooting for the stars.
Supporting companies moving toward commercial scale is particularly important through economic cycles of space investment, Matossian said. “When there’s a downturn and bubbles burst, quality startups need to be coached to manage cash carefully.” Sound advice, especially when your product literally involves rocket science.
Instead of writing many small checks, Whipsmart will make significant investments. “We’ll often take a board seat, and our percentage of ownership will be greater,” Masterman said. “We want to be the first phone call for entrepreneurs, whether something good or bad is happening.” Translation: They're going all in, and they want the good gossip first.
Whipsmart is looking to invest in seven areas where technology is disrupting traditional industries: [list not provided in source]. In addition, Whipsmart will “invest in exceptional SpaceTech and DeepTech companies that fall outside” the seven disruptive categories identified, according to the company’s website. Because rules are made to be bent, especially when you're dealing with space.