Trinity Capital, a provider of diversified financial solutions to growth-oriented companies, committed $30 million in growth capital to Slingshot Aerospace, a company in AI-powered solutions for satellite tracking, space traffic coordination and space modeling and simulation.

“As space becomes more crowded, platforms like Slingshot are becoming increasingly vital to conducting in-orbit operations,” Ryan Thompson, managing director, tech lending at Trinity Capital, said. “We are thrilled to partner with the team at Slingshot, whose innovative technology, data and insights strive to make space safer and more secure.”

The new debt facility from Trinity will allow Slingshot to continue to scale operations and fund key growth initiatives.

“Trinity is the ideal partner for Slingshot as we rapidly scale our business to meet the market demand for our solutions,” Tim Solms, CEO of Slingshot Aerospace, said.