Space startup Loft Orbital raises $170 million to expand satellite fleet

Quick Summary:

Loft Orbital has raised $170 million in a late-stage funding round with investors such as Temasek, Tikehau Capital and Axial Partners, the space technology company said as it looks to expand its fleet of satellites in orbit.

In 2025, the company plans to deploy several satellite constellations for Earth observation firm EarthDaily and the U.S.

Its services offer customers a quick, hassle-free, and cost-effective path to sending a satellite to orbit or operating on an existing satellite.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Largest Operating Orbital Raised Million Satellites Loft Space Company Orbit Satellite

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-15 @ 02:17:41 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 257 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 25159101

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Official Website: channelnewsasia.com

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