Boldfish

Work / InspeCity

Case study

$5.6M for a company building service stations in orbit.

Client

InspeCity

Practice

Capital Narrative

Scope

Investor narrative, pitch deck, 3D product films, website

Sector

Space technology — ISAM

Outcome

$5.6M seed, May 2025

01
The room

Investors who already believed in the category.

InspeCity came to us through Speciale Invest — their investor, and our client for four years.

They build in-orbit servicing systems: propulsion, robotics and docking that extend the life of satellites already in space.

The room was seed investors with deep tech and space already in their portfolios. Nobody needed convincing that the market was real.

02
The problem

Agreement is harder to work with than doubt.

When a room already knows a market is enormous, the question changes. It stops being “is this worth doing” and becomes “if it's worth this much, why hasn't anyone done it?”

Answer that badly and you look naive. Skip it and you look evasive.

03The narrative move

We built the deck around the objection, not the opportunity.

Most of the first half went to the problem, and none of it was written as engineering. What a failed satellite costs. What replacing one costs. What the industry loses every year by treating that as normal.

By the time the solution arrived, the room had already worked out what it was worth.

And one slide before the answer, we asked the hardest question ourselves: “if this is so valuable, why has nobody built it?” Asking it first turned the difficulty from a risk into a moat.

On the dice

Early drafts called satellite operators “the greatest gamblers of the 21st century” — every mission a roll of the dice, at worse odds than a casino would offer.

Too sharp to survive, and we cut it. But we kept the dice.

The section became a dilemma rather than an accusation — enough tension to hold a room, not enough to insult the customer sitting in it.

04
The work

Six months, from the first research call to the closed round.

It started with reading. Weeks of founder calls and technical documents, working our way into a sector we didn't know, because you can't argue for something you only half understand.

Then narrative, copy and design — built together rather than passed between people.

And then we stayed. The deck went into investor meetings and came back with notes, and we were there for every round of it. Questions asked twice became slides. Slides nobody asked about were cut. The version that closed the round was sharper than the one that opened it.

We built 3D renders of the servicing sequence too. Some things take two hundred words to describe and four seconds to watch.

Then the website. Strategy, narrative, copy, design and development, end to end. Same argument, different room: partners, hires and government programmes instead of investors.

05
The outcome

The round closed in May 2025.

Led by Ashish Kacholia, with Speciale Invest, Shastra VC, Antler India, DeVC, MGF Kavachh and Anicut Capital. The round funds space-qualifying the technology within twelve months.

Project Team

We pride ourselves on an in-depth exploration of every element of the work. Each project is built with precision and restraint, and every decision is made with an intent that shows up in the room.

  • Aashik JoelProject Lead
  • VigneshResearch & Copy
  • Siri GurramDigital Designer
  • AdeebWeb Developer

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