June 6, 2024 — ONDO Space LLC, a pioneering company in space technology, has secured a significant investment from Exponential Zaisan Partners Venture Capital Fund (XZP Fund), a Delaware-based firm. This investment not only values ONDO Space but also aims to support the company's ongoing projects and future growth.

Azbayar Altangerel, Managing Partner at XZP Fund, expressed optimism about the partnership, stating, "We are pleased to support ONDO Space. Their proven technology and ambitious plans for the future align well with our investment goals. We believe they have the potential to make significant contributions in this fast-expanding industry."

The funding will enable ONDO Space to enhance its research and development efforts, expand its team, and drive growth. This investment from XZP Fund provides not only financial backing but also strategic advice and industry connections, which will be invaluable as ONDO Space continues to develop its technologies and services.

ONDO Space LLC offers a range of products and services, including IoT low Earth orbit satellites for location tracking, payload development, bus platforms, ground station as a service, satellite as a service, and upcoming direct-to-cell capabilities for text messages and voice calls.

Exponential Zaisan Partners is an early-stage fund focused on Central Asia and Mongolia, assisting the most promising founders with global expansion. Through its affiliated entity in Mongolia, Exponential Partners, the fund has introduced several startup-related projects and programs, including the Founder Institute and Startup World Cup from Silicon Valley. It is also the local partner for the MonJa accelerator program and the Mongolian Angel Investment Club. Exponential Zaisan Partners is backed by prominent investors, including Tim Draper, and collaborates with over 400 funds globally through the VC Lab network.

This partnership marks a significant milestone for ONDO Space, positioning the company for accelerated growth and innovation in the space technology sector.

Resource: XZP Fund