Full Executive Summary on request from gary@prioryhouse.com
| Colossus Computing 470 3rd Street, Oakland, CA USA https://colossuscompute.com Jason Cerundolo, CEO (510) 368-1737 Industry: Semiconductors, Spacetech, AI Description: Colossus aims to deliver high-performance computing systems to the space industry, enabling AI workloads onboard small satellites through a patent-pending solution for radiation mitigation of advanced SSD, chip, software, and component design. Target Market Size: $150B Satellite Data Market +15% CAGR Headcount: 7 FTEs Founded: 2021 Investment Opportunity: US $5M Use of Proceeds: Sales & Marketing – 50%Engineering & Product – 30%Manufacturing & Ops – 20% Direct Sales Customers: Loft Orbital – 3 units ($550K) Hanwha – 1 unit ($150K) Pre-Seed Funding: US $2M Non-Dilutive Funding: $90K NASA Entrepreneurs Challenge $150K NASA SBIR Phase I $900K NASA SBIR Phase II |
Executive Summary Opening comments
In the fast-growing economy of space, small satellites (aka “SmallSats”) are becoming indispensable tools for various industries, with a myriad of use cases from communication and navigation to Earth observation and research. However, the extreme conditions of space present an undeniable challenge: namely to ensure that higher-performance computing solutions can withstand the intense cosmic radiation. Enter Colossus, whose mission is to leapfrog the industry for radiation-tolerant computing systems specifically tailored to enable AI and ML workloads for SmallSats.
The problem at hand is both significant and pressing. Many commercial off-the-shelf (COTS) storage and processing systems, while sophisticated on Earth, are ill-equipped to handle the harsh environment of space, leading to data corruption, loss, and even full system failures. Colossus unique technology approach hardens COTS solutions using our patent-pending process that drastically increases compute power, reliability, and deployment timelines while maintaining a competitive price point, and a gross margin bordering on 80%.
The market dynamics are in our favor. With the number of small satellites set to triple in the next two years alone, the demand for reliable, radiation-tolerant processing and storage is mounting as advanced sensing methods and mission objectives for small satellites and spacecraft continue to increase in complexity.
Colossus is a US-based business founded in 2021 by a diverse group of technology and spacetech experts. Our founders, who previously worked together at Capella Space, are veterans from networking, hardware, and spacetech domains. We’re based in Oakland, CA with seven full-time employees. Our advisors are sourced from space organizations like Airbus, DIU, and the US Navy who were cherry-picked to further bolster our team.
After raising $2M in pre-seed, securing over $1.1M in NASA funding, and generating $650K in sales in the past year, we are seeking an investment of US $5 million. With this investment, we plan to capture a dominant market in the niche, but quickly growing, market for radiation tolerant, AI-enabled storage, and processing solutions. With received LOI’s for 2024, and a plan to sell thousands of units in the next few years, we are confident in our ability to generate over $200 million in revenue by 2030.
More info gary@prioryhouse.com