Defending the High Ground
Introducing Upfront's Seed Investment in Fortastra
In 2022, the Wagner Group purchased access to Chinese reconnaissance satellites for $30 million1. In other words, a non-governmental Russian paramilitary organization was able to acquire earth observation capabilities for warfare.
As launch costs collapse and access to space opens up, this is only the beginning. We can expect many new customers to buy space capabilities, and of course, some will have nefarious intentions. Lowering the barriers to orbit for some lowers the barriers for everyone.
Meanwhile, the infrastructure we depend on in space is more important than ever. Starlink internet serves over 8 million active users globally; countless consumer and enterprise applications rely on GPS, including timing systems that underpin financial transactions; weather forecasting and transportation planning depending on earth observation satellites; and, of course, defense and intelligence systems rely on satellites too. Entire economies depend on this critical infrastructure, and it was previously protected because it was largely inaccessible without working with a government space program. Now, the same conditions that have created the proliferation of these capabilities have also created an attack surface for them.
Introducing Fortastra
I’m excited to announce Upfront’s investment in Fortastra, an LA-based company building autonomous security satellites to defend critical assets in orbit.
Fortastra is developing maneuverable escort satellites with high delta-v propulsion that can respond quickly to threats in orbit. The satellites are modular and designed for payload swaps across different mission profiles. But the real breakthrough is in the brain, not the body. Fortastra is building a physical AI stack for precise rendezvous and proximity operations (RPO) and, if necessary, autonomous interventions.
Think of it as a security detail for satellites. Security satellites that can approach, inspect, and, if necessary, engage threats to the spacecraft we depend on.
The near-term customer is the US government, which has an urgent interest in protecting its space assets amid rising geopolitical tensions. But Fortastra has bigger ambitions. The physical AI capabilities required to defend satellites are the same capabilities required to build, service, and maintain infrastructure in orbit. Defense today, construction tomorrow.
A Founder Built for This
Mike Smayda is a rare founder. He’s both a technical founder who could lead his engineering team and an experienced government salesperson who could lead the company’s go-to-market.
He spent five years at SpaceX as a senior aerodynamics engineer, working on landing rockets, designing components for Falcon, and developing early Starship architecture. He co-founded Hermeus, a hypersonic aircraft company, where he led systems engineering for novel space and aviation vehicles and served as Chief Product Officer. At Hermeus, he also led customer engagement with defense and intelligence customers, developing a deep understanding of how the government procurement machine actually works.
That combination of engineering depth and government GTM expertise is exceptional, but what really stood out when getting to know Mike was his leadership. One ex-Hermeus employee told us, “Hermeus has the best culture of any company I’ve ever worked for, and Mike was largely responsible for it.” An OG SpaceX leader said, “The greatest impact Mike had on SpaceX was the collection of amazing people he brought into the company after him.”
With his leadership, engineering background, and commercial expertise with government customers, Mike is the right person to build an engineering-led culture for this company.
The Tipping Point
The space economy has grown faster than our ability to secure it. Launch costs have fallen by over 90% since the Falcon 9 debuted. The number of active satellites has grown from around 1,000 in 2010 to over 12,000 today. This week, reports emerged that SpaceX is planning to go public in 2026 at a valuation of $1.5 trillion2. That would be the largest IPO in history. The scale of the space economy has become undeniable to even the most casual observers now.
Regular, reliable access to orbit has enabled an entire ecosystem of companies building satellites, communications infrastructure, and earth observation capabilities. Every year brings more assets in orbit. And more potential targets.
Rising geopolitical tensions add urgency. Space is becoming one of the most contested domains with peer and near-peer competitors. It is the ultimate high ground, and the US has enjoyed that advantage alone for decades. But other countries are catching up in terms of both space-to-earth and space-to-space capabilities. One country in particular is demonstrating an intention to build satellites that can move other satellites.
Looking Ahead
Fortastra is building the security layer that the space economy needs. Autonomous, intelligent, and capable of defending our most important assets. In the long run, the same capabilities will help us build in space, not just protect what’s already there.
Mike and the Fortastra team are just getting started. They are hiring for several key roles, some of which are listed here. We at Upfront are proud to partner with Mike and honored to be on the journey together. Let’s go!
U.S. sanctions Chinese satellite firm for allegedly supplying SAR imagery to Russia’s Wagner Group (January 27, 2023): https://spacenews.com/u-s-sanctions-chinese-satellite-firm-for-allegedly-supplying-sar-imagery-to-russias-wagner-group/
SpaceX to Pursue 2026 IPO Raising Far Above $30 Billion (December 9, 2025): https://www.bloomberg.com/news/articles/2025-12-09/spacex-said-to-pursue-2026-ipo-raising-far-above-30-billion
Opening paragraph is the intro to a Christopher Nolan film