Lonestar Completes Oversubscribed Financing Round Raising $825k
Imagery is Lonestar's artistic rendition of Intuitive Machines' Nova-C lunar lander
Image credit: Jason Riley, Artificial Lens for Lonestar
Lonestar Data Holdings Inc. (Lonestar) the cutting-edge technology company at the forefront of premium lunar data storage and disaster recovery services, is delighted to announce the successful completion of a Pre-Series A funding round, which was oversubscribed, demonstrating robust investor interest in the company's vision and accomplishments.
“Customers and investors are both keying in to our market vision to provide security for Earth’s critical data from the Moon.” said Chris Stott, Lonestar CEO.
Lonestar Data Holdings Inc. had originally set out to raise $500,000 in its Pre-Series A round. However, following the company's victory at a prestigious tech tank event hosted at an exclusive invite-only investor gathering, the company was inundated with interest from a series of investors eager to invest. This enthusiastic response led to the round being oversubscribed with over $800,000 in funding.
The Pre-Series A round witnessed strong participation from both existing and new investors, highlighting the growing confidence in Lonestar's mission and strategic approach. Lonestar is poised to utilize these funds to further advance its pioneering work in lunar edge and data storage.
“The success of our financial round reinforces our path forward and speaks volumes of the trust and support our investors have placed in us.” said Carol Goldstein, Lonestar’s CFO and CAO.
This achievement follows Lonestar's earlier success in its Seed funding round, which also witnessed oversubscription. In the Seed round, the company had set out to raise $5 million but attracted investments totaling $5.225 million.