New Partnership with AIN Ventures and NOVI Space Inc. (NOVI) to Accelerate NOVI's Mission of Accessible Earth Observation (EO), Space Domain Awareness and Autonomy
ARLINGTON, VIRGINIA / ACCESS Newswire / March 12, 2025 / NOVI, a leading innovator in space-edge processing, announced a strategic investment from AIN Ventures as part of its seed round. The investment follows NOVI's successful January orbital deployment of its second-generation SP240 On-Board Computer (OBC), marking a significant milestone of an operational Versal-based edge-processor in LEO.
"NOVI's approach to space-edge processing represents a paradigm shift in collection and processing of satellite data," said Sherman Williams, Managing Partner at AIN Ventures. "Their technology significantly reduces the cost and complexity barriers that have historically limited the adoption of EO services. We're excited to partner with NOVI as they transform this $40B market and strengthen our nation's space capabilities."
NOVI is a leader in space-edge processing, transforming satellite-based EO data into actionable intelligence in orbit. By integrating advanced AI/ML algorithms, proprietary on-board computers, and low-cost multi-sensor satellites, NOVI drastically reduces costs and latency compared to traditional systems. With proven technology developed for the U.S. DoD and the launch of its VISTAsat platform, NOVI is creating an innovative space-AI marketplace and open access satellite network for applications across industries like agriculture, defense, and disaster response in a rapidly growing market.
"This investment from AIN Ventures validates our mission to make EO services more accessible and actionable," said NOVI CEO, Dr. Michael Bartholomeusz. "With their support and deep expertise in dual-use technologies, we're well-positioned to accelerate our growth and deliver innovative solutions that address critical challenges in both commercial and defense markets."
NOVI's leadership team brings extensive aerospace, AI, and technology commercialization expertise. CEO Dr. Michael Bartholomeusz is a global executive with over 25 years of enterprise management and transaction experience, including work on the space shuttle program. Co-founders Dr. Amit Mehra and Dr. Constantine Papageorgiou are seasoned entrepreneurs with deep expertise in aeronautics and AI. CRO Scott Steffan has led multi-million-dollar aerospace initiatives at Moog. They combine technical excellence and a proven track record in scaling deep-tech ventures.
AIN Ventures' investment in NOVI was carried out in collaboration with Virginia Innovation Partnership Corporation (VIPC)'s Virginia Venture Partners (VVP) and its Virginia Invests fund of funds initiative. Launched in 2024, Virginia Invests has taken LP positions in six fund managers, including AIN Ventures, to accelerate the infusion of capital into Virginia startups and generate new opportunities for Virginia entrepreneurs to grow and innovate. The program, powered by the U.S. Department of Treasury State Small Business Credit Initiative (SSBCI), is designed to catalyze over $250 million in investments over the next 3-5 years.
Other investors include Spirit Electronics Ventures, Tyger River Capital and Dr. Sachio Semmoto, a former Softbank board member.
About NOVI:
NOVI is a Space AI infrastructure and compute company with TRL 9, flight-proven OBCs deploying a constellation of multi-sensor edge-processing satellites for EO, coupled to a full-stack data, algorithm, and intelligence management platform named VISTAsat.
About AIN Ventures:
AIN Ventures is an early-stage deep tech investment fund that specializes in dual-use technologies and believes technology can enable our country and its allies to overcome their toughest challenges.
Contact Information
Scott Steffan
CRO and Co-Founder
scott.steffan@novillc.com
SOURCE: NOVI
View the original press release on ACCESS Newswire
