Ray by Inversion Space: status and timeline

Milestones

No announced next step

Ray spacecraft development begins2024Complete.
Ray launches on SpaceX Transporter-1214 Jan 2025Complete.
Avionics, propulsion, and solar systems validated in orbitFeb 2025Complete.

Most important updates

Inversion Space launches Ray technology demonstrator on SpaceX Transporter-1214 Jan 2025
Inversion Space obtains reentry license from FAA for Ray spacecraft15 Oct 2024

Physics limits

Rapid development risks integration issuesBuilding a space vehicle in under a year leaves little time for redundancy testing; Ray's design trades some margin for speed and cost.

How it works

2 parts

Systems validation

In-orbit test of Arc subsystems

Tested avionics, propulsion, solar panels, attitude control, and separation systems in orbit ahead of Arc.

Cost discipline

Lean aerospace engineering

Built Ray with commercial components and rapid iteration; proves lean aerospace works.

Spec sheet

Spec	Ray
Development team size	25 engineers^R (reported)
Total development cost	<$1M^R (reported)

^R reported by the company

Update log

2 updates

Tue 14 Jan 2025

Major: Inversion Space launches Ray technology demonstrator on SpaceX Transporter-12PressHardware

Tue 15 Oct 2024

Major: Inversion Space obtains reentry license from FAA for Ray spacecraftPressRegulatory

About Inversion Space

The team behind Ray

Inversion Space

Reentry vehicle, space logistics, hypersonic testing platform

Inversion develops autonomous reentry vehicles for space logistics: deliver cargo from orbit to any point on Earth in <1 hour. Founded 2021 by Boston University alumni.

Ray spacecraft: 25 engineers, <$1M, launched Jan 2025; validates Arc systems.
$71M Space Force STRATFI award (Sept 2024) for military reentry vehicle R&D.
Arc: 500 lb payloads, Mach 20+ reentry, autonomous landing; for logistics and hypersonic R&D.

inversionspace.com (opens inversionspace.com)Company profile →

Founded: 20215 yrs
Headquarters: United States
Status: Private
Valuation: private
Staff: ~113Jan 2026
Raised: $54M2 rounds
Last round: Series A · $44M20 Nov 2024
Works in: SpaceflightIn-space manufacturing
Coverage: 2 programs · 8 updateslatest 6 Oct 2025checked 10 Oct
Lead investors: Spark CapitalAdjacentSpace Force SpaceWERXY Combinator
Customers: U.S. Space Force (opens spaceforce.mil)SpaceX (opens spacex.com)
Partners: Anduril (opens anduril.com)Kratos (opens kratosdefense.com)NASA (opens nasa.gov)
Investors: Lockheed Martin Ventures (opens lockheedmartin.com)
People: Justin Fiaschetti (opens inversionspace.com)CEO and Co-founderAustin BriggsCTO and Co-founder

Spec

Ray

Development team size

25 engineers^R (reported)

Total development cost

<$1M^R (reported)