Finance

Spire Global used a reverse stock split on Thursday to raise its trading price over $1. This means that every 8 shares of Spire were merged to 1 share, reducing the number of outstanding Class A shares from 166,782,887 to approximately 20,847,860. Spire has been working to raise its share price since it was labeled...

MDA is acquiring SatixFy’s digital payload division in a $40 million acquisition to increase its offerings in the digital satellite communications market, the Canadian manufacturer announced Thursday.  SatixFy is headquartered in Israel and is known for developing user terminals and modems and its in-house chipsets. The digital payload division, SatixFy Space Systems UK Ltd., is...

Satellite flight software provider ReOrbit raised $7.4 million in an oversubscribed seed funding round, the Helsinki-based company announced Wednesday. Inventure VC led the round, along with participation from 10xFounders, Icebreaker.vc, Expansion, and YesVC. The company offers an onboard flight computer system, and software-defined satellite platforms for both Low-Earth Orbit (LEO) and Geostationary Orbit (GEO). Earlier...

SatSure, an Earth observation startup based in India and focused on using satellite data for agricultural insurance use cases, raised $15 million in a Series A round. Baring Private Equity Partners, India (BPEP India) and Promus Ventures led the round, with participation from Omidyar Network India, xto10X, Force Ventures, Luckbox Ventures, and IndigoEdge Advisors. SatSure,...

Former Qualcomm CEO and XCOM Labs founder Paul Jacobs is joining Globalstar as CEO, as Globalstar announced Tuesday that CEO David Kagan is retiring. The move is part of a larger shakeup at Globalstar, a number of XCOM executives will take senior leadership positions.  Jacobs was the CEO of Qualcomm from July 2005 to March...

With the world facing a series of environmental and climate changes, satellite companies will play a vital role in combating climate change. Satellite startup Amini has the potential to be special. The company could help make a difference in Africa as it looks to be a player in the development of African data infrastructure by...

Telesat dropped a huge announcement earlier this month as it finally revealed its Lightspeed constellation is full steam ahead. Telesat has funding in place and switched to MDA from Thales Alenia Space to build the Low-Earth Orbit (LEO) constellation. With a number of constellations in the works with Starlink, OneWeb, and Amazon’s Project Kuiper, competition...

SCOUT Space has made an acquisition to strengthen its defense and technical capabilities, acquiring space domain awareness software company Free Space. SCOUT announced the acquisition on Aug. 24. Terms of the deal were not disclosed.  Both companies are focused on software for space domain awareness. Free Space was founded last year and built satellite autonomy...

In-space transportation company Momentus executed a reverse stock split on Wednesday, to raise the price of its shares so the company can continue trading on the Nasdaq stock exchange.  Momentus was set to execute the reverse stock split at 11:59 p.m. on Aug. 23 at a 1-for-50 ratio. This means that every 50 shares of...

Sidus Space is acquiring Exo-Space to expand into the AI sector and improve its solutions for the Earth observation market. Sidus Space is a satellite manufacturing and space services company developing the multi-mission LizzieSat constellation.   Sidus Space said that Exo-Space’s technology in AI edge computing for software and space hardware complements its own. The company...