VIPC Invests in AI-Driven, Space-Tech Startup NOVI SPACE

NOVI provides satellite sensor data intelligence with significant cost and latency benefits.

RICHMOND, VA, UNITED STATES, May 28, 2025 /EINPresswire.com/ -- The Virginia Innovation Partnership Corporation (VIPC) today announced that Virginia Venture Partners (VVP), VIPC’s venture capital platform, has invested in Arlington, Virginia-based startup NOVI SPACE Inc. (NOVI). NOVI is a space AI infrastructure and compute company providing end-to-end technology solutions revolutionizing access to space-based satellite sensor data. As part of their ongoing seed round, NOVI has successfully attracted capital from both in-state and out-of-state co-investors including Arizona-based Spirit Electronics Ventures, North Carolina-based Tyger River Capital, and Virginia-based AIN Ventures, one of VIPC’s Virginia Invests’ fund managers. VIPC also previously awarded a technology commercialization grant to NOVI, which supported its Phase I SBIR award from the Air Force Research Lab (AFRL) and served as an effective bridge to securing a follow-on AFRL Phase II award.

Satellite constellations generate vast amounts of raw sensor data and generally lack on-board processing capabilities. Accessing space-based sensors and processing satellite data remains difficult and prohibitively expensive. NOVI is leveraging its successful demonstration work with the U.S. Department of Defense to fill a critical gap in the U.S. commercial hardware market by providing TRL-9, flight-proven on-board computers (OBCs) for in-orbit satellites. NOVI has previously deployed its satellite compute-on-board into space through SpaceX and other launch partners. In addition, NOVI is developing and deploying a constellation of multi-sensor edge-processing satellites for earth observation (EO), coupled to a full-stack data, algorithm, and intelligence management platform named VISTAsat™. This innovative space AI marketplace provides open-access to a growing satellite network, and enables commercial companies, governments and developers to harness real-time space-based sensors, processors and intelligence across numerous industries.

“We are thrilled to partner with the VIPC team and deeply value their support as NOVI continues to expand in the Arlington area and drive the future of space innovation. VIPC has been instrumental in attracting a strong network of investors and accelerating our growth following a successful satellite launch on SpaceX’s Transporter-12 mission in January 2025,” said Dr. Amit Mehra, President and Co-founder of NOVI.

VIPC President and CEO, Joe Benevento, said, “NOVI is innovating here in Virginia at the unique intersection of artificial intelligence compute and space hardware infrastructure. Our collaboration with NOVI is a great example of how VIPC seeks to catalyze and leverage public-private investment – through VIPC, the Department of Defense, and now external venture capital funds from the private sector – to accelerate technology innovation in the marketplace.”

“NOVI has successfully developed and de-risked transformative edge AI technology, which they are actively deploying to government and commercial customers in route to creating the first low-cost, open constellation to democratize access to space data,” said Marco Rubin, Senior Investment Director for VIPC’s Virginia Venture Partners. “VVP is pleased to support the NOVI team, and we look forward to exciting growth within Virginia’s strategic aerospace and defense industries.”

About NOVI
NOVI is a Space AI infrastructure and compute company. In addition to providing the space industry with TRL 9, flight-proven OBCs, NOVI is developing and deploying a constellation of multi-sensor edge-processing satellites for EO, coupled to a full-stack data, algorithm, and intelligence management platform named VISTAsat™. This is an innovative space AI marketplace that provides open-access to our growing satellite network, and enables commercial companies, governments and developers to harness real-time space-based sensors, processors and intelligence, further changing the cost paradigm to drive innovation, create new use-cases and redefine how industries leverage EO. Learn more at www.novispace.ai.

About Virginia Innovation Partnership Corporation (VIPC)
Connecting innovators with opportunities. VIPC operates as the nonprofit corporation on behalf of the Virginia Innovation Partnership Authority (VIPA). VIPA / VIPC is Virginia’s designated authority for leading innovation and economic development in the Commonwealth of Virginia through research, commercialization, and technology advancement; entrepreneurship, startup, and venture capital growth; and regional ecosystem, innovation network, and industry sector expansion. As part of its operations, VIPC helps attract and catalyze private investment into early-stage startup companies, provides research and technology commercialization grants to universities and entrepreneurs, and offers resource and funding support for entrepreneurial ecosystems, innovation networks, and public-private partnerships at local, state, and federal levels.

VIPC’s programs include: Virginia Invests | Virginia Venture Partners (VVP) | Commonwealth Commercialization Fund (CCF) | Entrepreneurial Ecosystems Development | Regional Innovation Fund (RIF) | Smart Communities | The Virginia Smart Community Testbed | The Virginia Unmanned Systems Center | Virginia Advanced Air Mobility Alliance (VAAMA) | The Public Safety Innovation Center (PSIC) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University Partnerships | Startup Company Mentoring & Engagement.

For more information, please visit www.VIPC.org.

About Virginia Venture Partners (VVP)
Virginia Venture Partners (VVP) is VIPC’s venture capital investment platform that makes direct investments in Virginia-based startups with a high potential for achieving rapid growth and generating a significant economic return for entrepreneurs, co-investors, and the Commonwealth of Virginia. Since its inception in 2004, Virginia Venture Partners has helped catalyze investment in more than 300 startups and attract more than $2 billion of private industry capital into Virginia, resulting in 35x capital leverage.

Virginia Invests is a VIPC-led initiative that expands investment and growth opportunities for Virginia-based, innovation-driven startups and entrepreneurial ecosystems throughout the Commonwealth. The investment program is designed to accelerate capital invested, from both in-state and out-of-state fund managers, into Virginia startups, particularly those with female, black, Hispanic, Veteran, and/or rural-based founders. Virginia Invests is expected to catalyze and attract $250 million of investment into more than 100 high-growth Virginia startups during the next 3-5 years.

For more information about VVP and Virginia Invests, visit www.VIPC.org.

Jennifer Hiltwine
VIPC
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