Sign up to save tools and stay up to date with the latest in AI
bg
bg
1

Loft Orbital lands a fresh $170 million after logging over $500 million of bookings | TechCrunch

Jan 15, 2025 - techcrunch.com
Loft Orbital, a space infrastructure company, has secured $170 million in Series C funding, co-led by Tikehau Capital and Axial Partners, surpassing the total $160 million it had raised since its 2017 inception. The company has now raised a total of $330 million. While Loft Orbital did not disclose its current valuation, its post-money valuation was $550 million after a $130 million Series B round in 2021. The company has achieved over $500 million in bookings with its previous capital and has grown its revenue by 100% for two consecutive years. Loft Orbital focuses on profitability and sustainability, having sold over 30 satellites to clients like NASA and Microsoft, and completed over 25 customer missions with its five launched satellites.

Loft Orbital simplifies space missions by purchasing standard satellites and equipping them with customer payloads, offering a service that eliminates the need for clients to manage their own hardware. It also provides "virtual missions," allowing customers to deploy software applications on Loft satellites. Recently, Loft Orbital formed a joint venture with Marlan Space to enhance satellite manufacturing in the Middle East and launched YAM-6, a satellite dedicated to AI operations in space. The new funding will help Loft Orbital increase its satellite launches to over ten annually and expand its virtual missions and AI business, aiming to build an ecosystem of AI application partners.

Key takeaways:

  • Loft Orbital has raised $170 million in Series C funding, bringing its total funding to $330 million since its inception in 2017.
  • The company has achieved over $500 million in bookings with only $160 million of capital raised prior to the Series C, highlighting its capital efficiency.
  • Loft Orbital's business model involves buying standard satellites and outfitting them with customer payloads, simplifying the deployment and operation of space missions.
  • The new capital will be used to increase satellite launches to over ten annually and expand its virtual missions and AI business.
View Full Article

Comments (0)

Be the first to comment!