Topics
late
AI
Amazon
Image Credits:Loft Orbital
Apps
Biotech & Health
mood
Image Credits:Loft Orbital
Cloud Computing
Commerce
Crypto
endeavor
EVs
Fintech
fund-raise
Gadgets
back
Government & Policy
ironware
Layoffs
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
protection
societal
Space
Startups
TikTok
deportation
Venture
More from TechCrunch
event
Startup Battlefield
StrictlyVC
Podcasts
TV
Partner Content
TechCrunch Brand Studio
Crunchboard
reach Us
Space infrastructure society Loft Orbital has raised $ 170 million in Series C funding Colorado - led by Tikehau Capital and Axial Partners . Notably , the amount of theSeries C financingis greater than the combined $ 160 million the ship’s company has raised since its 2017 inception .
Loft Orbitaldeclined to reveal its valuation . harmonise to PitchBook , its post - money valuation at the meter of its last raise in 2021 — a $ 130 million Series B round — was $ 550 million .
Bpifrance , Foundation Capital , Temasek , and Uncork Capital also participated , which brings the companionship ’s sum raised over its lifespan to $ 330 million .
Loft also declined to uncover hard revenue name but co - founding father and COO Alex Greenberg told TechCrunch that the company has grow taxation by 100 % two years in a row .
“ We ’ve attain over $ 500 million of bookings on only $ 160 million of chapiter raised prior to this Series C. In an industry have it away for its capital intensity , we are majestic of our capital efficiency , ” he added . “ Right now we ’re really focused on gainfulness and mother the occupation to sustainability . ”
The company has sold over 30 orbiter and its customers include NASA , Microsoft , Anduril , and BAE Systems , among others . In totality , it says it has deploy over 25 client missions across its five satellites launched to engagement .
When it start in January 2017 , the company ’s self - delineate commission was to “ make it simple for organisation to deploy and maneuver missionary work in space . ” In a nutshell , Loft aims to plow the process of deploying and function customer charge as a servicing .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
It corrupt standard satellites from marketer like Airbus and LeoStella and outfits them with payloads from customers , saving them the fuss of purchasing , operating , and managing their own ironware and ground section connection .
“ Unlike others in the industry , we ’re not design satellites for specific missions — we ’re configuring existing components of our planet platform , ” Greenberg say . “ believe of it like Lego construction blocks . ”
It also offer “ virtual delegacy , ” allowing its customer to deploy their software package apps onto a Loft planet to leverage on - board sensors and compute nodes , analyse data as it is being collected , and run a whole compass of use cases .
Loft has been busy as of late . The startup last August announced a joint venture with Abu Dhabi - base Marlan Space thatraised over $ 100 millionfrom a holding ship’s company affiliate with an Emirati imperial family to grow the region ’s domestic satellite manufacturing capableness .
It also says it has set in motion YAM-6 , a artificial satellite dedicated torunning AI in space .
Greenberg enunciate Loft will use its Modern capital in two mode . It contrive to descale from found a handful of orbiter per yr to ten - plus per year . It also desire to enlarge its virtual missions , expand its AI business where client can make an AI system in their own cloud ( wildfire detection for instance ) , and deploy it onto a Loft satellite . And he hopes to grow an ecosystem of AI app partners .
