Slingshot Aerospace, a provider of AI-powered solutions for satellite tracking, space traffic coordination and space modeling and simulation, is considering acquisitions and financing options, CEO Tim Solms told Mergermarket.

Solms was appointed CEO in February this year to accelerate Slingshot’s growth in the public and private sectors, in the US and internationally, according to the press release.

He is currently identifying the top acquisition candidates for Slingshot from a list of 350 companies on his radar. The company would acquire for market entry, to add complementary technologies or to add technical capabilities, he said.

Colorado Springs, Colorado-based Slingshot is currently growing its undisclosed revenues at an annual rate of more than 50%, he said. It aims to maintain this growth path for the upcoming three to four years, and to reach that goal it will have to complement organic growth with acquisitions, he added. The company can become profitable in the next four quarters, he said.

The company will need to put financing in place for potential deals, and to do so it could raise funds, use debt financing, or come up with a different creative method, Solms said.

Slingshot is also considering raising USD 30m to USD 50m within the next three months to finance its strong organic growth, Solms said. He did not disclose details about the financing but said that it will not be used for acquisitions.

The CEO is working to grow the company and make it ready to go public, although there is no decision on the exit path at this point, he said.

In September, the company announced that Trinity Capital [NASDAQ:TRIN] provided USD 30m in growth capital, which it said it will use to scale operations and fund some growth initiatives.

In December 2022, the company raised USD 40.85m in a round led by Sway Ventures with the participation of C16 Ventures, ATX Venture Partners, Lockheed Martin Ventures, Valor Equity Partners and Draper Associates. At the same time, it received a venture loan from Horizon Technology Finance [NASDAQ:HRZN].

In August 2022, Slingshot acquired Numerica’s Space Domain Awareness (SAD) division and UK-based Seradata, establishing the company’s footprint in the UK and European markets.

Slingshot provides solutions for satellite tracking, space traffic coordination and space modeling and simulations to make space safer, sustainable and secure, according to its website. Its platform provides a unified representation of space activities to enhance government and commercial space operators’ space situational awareness, improve operational efficiency and reduce risk in orbit. Its customers include Darpa, Intelsat, US AIR Force, Northrop Grumman and NASA, according to its website.

The company was launched in 2017 and has locations in California, Colorado, and the UK. It has 145 employees across its offices in the US and the UK, the CEO said.