Venture Capital: Loft Orbital, A Provider Of “Space-Infrastructure-As-A-Service,” Raises $140M
Loft Orbital already has two missions in orbit.
Space infrastructure startup Loft Orbital flies customers’ payloads into space aboard its regularly scheduled satellites missions, and as well, handles the entire mission as a service for the customer. It raised $140 million in a funding round led by BlackRock (NYSE: BLK). (CNBC)
Loft procures qualified, commodity satellite buses in advance and offers this ‘inventory’ off-the-shelf to customers in satellite missions that are ‘plug-and-play,’ because it has also developed the relevant software and hardware products for these ‘YAMs,’ or ‘Yet Another Mission.’ Loft therefore delivers payloads to orbit in months not years.
Loft Orbital and its YAMs
YAM 2 and YAM 3 missions, both launched in June 2021, are already on orbit. YAM 4 and YAM 5 are manifested but full missions, slated for Q4 and Q2 respectively of 2022.
YAM 6 is scheduled to launch in Q3 of 2022 and space is available to customers on this mission.
“If you’re a customer with either a single payload or a constellation that you want to put in space, but you don’t want to be the one building or designing your own satellite – dealing with the manufacturer, dealing with the launch provider, and then actually operating it once it’s in space – then you work with someone like us,” said Loft Orbital co-founder and COO Alex Greenberg to CNBC.
Of the total funding, $130 million was accounted by investors including CEAS Investments, Foundation Capital, Uncork Capital, Ubiquity VC and others. Short-term convertible notes raised another $10 million from the same investors, and these notes converted into capital in the funding round.
Feature Image Credit: Loft Orbital Via LeFigaro
Latest Alternative Investment News
Michael Saylor, CEO of MicroStrategy (NASDAQ: MSTR), who is permanently bullish on bitcoin, reiterated his positive outlook for the leading crypto in an interview on Thursday. Note that MicroStrategy currently…
The crypto world was dealt a body blow by the collapse of the TerraUSD (UST) stablecoin earlier this month. The Terra meltdown is now being referred as crypto’s “Lehman moment.”…
Fast-growing, Southeast Asia-focused payments infrastructure platform Xendit closed on a US$300 million Series D funding co-led by Coatue and Insight Partners with additional investment from Accel, Tiger Global, Kleiner Perkins,…
FTX Stocks is an equity trading platform offered through the FTX US trading application. FTX US announced Thursday a private beta phase trading on the platform for US customers selected…