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Loft Orbital lands a fresh $170M after logging over $500M of bookings
Loft Orbital has raised $170 million in Series C funding to grow its satellite and space missions as a service.
It buys standard satellites from vendors like Airbus and LeoStella and outfits them with payloads from customers, saving them the hassle of purchasing, operating and managing their own hardware and ground segment network. It also offers “virtual missions,” allowing its customers to deploy their software apps onto a Loft satellite to leverage on-board sensors and compute nodes, analyze data as it is being collected and run a whole range of use cases. The startup last August announced a joint venture with Abu Dhabi-based Marlan Space that raised over $100 million from a holding company affiliated with an Emirati royal family to grow the region’s domestic satellite manufacturing capabilities.
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