Booz Allen Hamilton is using its strategic venture fund to support startups and bolster its client offerings. The massive data firm has recently invested in Albedo Space, a company striving to deploy very low flying satellites and Synthetaic, an AI startup notorious for discovering the origin of a mysterious Chinese spy balloon via satellite data.

The venture fund, initiated just two years ago, provides cash and operational aid to startups. Booz Allen’s goal is to locate companies in the space sector offering innovative ways to process data or unique data, in order to meet the needs of their clients, which range from the Space Force to NASA and to the intelligence community.

In addition to providing funds, Booz Allen Ventures also helps startups access crucial markets and helps to develop new products. Booz Allen, according to Chris Bogdan who oversees space business at the firm, acts as a “connective tissue” linking startups, such as Albedo, with the intelligence community.

Potential business models drawing interest from Booz Allen’s clients include smart satellites possessing advanced computing power, Cislunar space exploitation brought about by NASA’s Artemis program, in-space manufacturing for idealistic plans for places like the Moon and Mars, and satellite servicing and refueling which aligns with the US military’s desire for more flexibility with its satellites.

Source: Inside Booz Allen Hamilton’s Hunt for the Right Space Startup.