Delivering a marketplace for satellite operators to understand and avoid radio frequency interference.
Overview
| Company | |
|---|---|
| Headquarters | Toronto, Ontario |
| Founded | 2021 |
| Founder(s) | Jacqueline Good |
| Ownership | Private |
| Media | ||
|---|---|---|
| Website |
Description
Magnestar Inc. markets itself as a software as a service (SaaS) company creating a signal communication clearing house between satellites and the ground. This description obscures the potential benefit of their solution to the problem of signal interference.
As Canadians increasingly rely on satellites for everything from knowing what the weather will be like to getting around and talking with our neighbours and business partners, any delays in the signal reaching us becomes an irritation. The longer the delay, the greater the annoyance. When money or lives are on the line, however, annoyance quickly becomes frustration. And the further north the customer is, the more such interference increases.
Magnestar proposes a kind of marketplace where they collect member's communications signals and process them to determine strength. Using that information they produce useful information about signal dead-spots allowing satellite operators to route around the disturbances. Improved communications with the ground ultimately improves end-client services.
Magnestar's approach to the problem contrasts strongly with other solutions being explored which mostly centre around building more powerful broadcasting hardware. The traditional approach has many merits, but the downside is bulkier equipment that must be hauled into space, which continues to be very expensive. Magnestar's approach requires a small physical module; the valuable work is done in software.
Recent News & Updates
January 10, 2023
$1.1M new funding is a significant achievement for a company less than 1 year old.
Magnestar, a new startup based in Toronto, has raised a $1.1M pre-seed round to kickstart the development of a platform to help satellite operators predict and avoid potential radiofrequency (RF) interference. https://t.co/wEs33yR80m
— Payload 🚀 (@payloadspace) January 10, 2023
December 27, 2022
Magnestar is getting positive coverage in publications like SpaceNews, in part, because they are solving important problems in the Canadian satellite market where signal degradation in the North is an real-life irritation.
Big thank you to @SpaceNews_Inc for the introduction! 🛰️🛰️https://t.co/TlDo6iVWN0
— Magnestar Inc. (@MagnestarInc) December 27, 2022
August 29, 2022
While making a difference for a profit is important, many Canadian startups are looking to make a broader societal impact. Magnestar's use of Upside is both a bet on the future value of the company and a promise to donate a portion of the company's equity, should a "liquidity event" happen (i.e. IPO, sale, etc.).
Join us in welcoming @MagnestarInc to Upside 🎉
— Upside Foundation (@sharetheupside) August 29, 2022
“Pledging our Upside allows Magnestar to have social impact embedded into our business model from the early stage, as well as create outsized impact with like-minded founders.”
- @Jacquelinegood, Founder and CEO, Magnestar Inc. pic.twitter.com/RmzChmyVd9
July 1, 2022
A cash injection of $100,000 is sure to be helpful in extending the company's runway to profitability.
Just won @startupfest best in fest! pic.twitter.com/4Ai5jmLYJA
— Magnestar Inc. (@MagnestarInc) July 15, 2022
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