Finance

Private equity firm Trive Capital is acquiring Hypergiant Industries to advance its AI solutions for the defense sector. Trive Capital, based in Dallas, announced the acquisition on Tuesday. Terms of the deal were not disclosed.  Thrive Capital Partner David Stinnett said that Hypergiant has a geospatial data visualization capability that puts the company at the...

Commercial space station company Axiom Space raised $350 million in its Series-C round of growth funding from Saudi financier Aljazira Capital and existing investor Boryung, a Korean pharmaceutical manufacturer. Axiom Space announced the round on Monday, reporting it has signed more than $2.2 billion in customer contracts.  Aljazira Capital CEO Naif AlMesned commented on the...

Britain’s BAE Systems  on Thursday said it has agreed to a acquire Ball Corp.’s aerospace unit for $5.6 billion and highlighted the business is forecast to generate $2.2 billion in sales this year and could grow to $4 billion by 2030 due to strong demand in the space, missiles, and munitions markets. Ball Aerospace has nearly doubled...

Spire Global named Leo Basola as its new chief financial officer. This appointment comes after earlier this year, the company’s CFO Thomas Krywe announced he would step down in September.  The change comes as Spire will soon execute a stock split to regain compliance with its NYSE listing, as its shares have been trading at...

The Space Development Agency (SDA) has awarded Momentus a small business innovation research (SBIR) award to tailor its orbital service vehicle for Department of Defense needs. However, the company faces dwindling cash reserves and must raise additional capital to continue operating.  Momentus released its second quarter financials on Monday, marking its first $1-million quarter, with...

Terran Orbital reported record revenue of $32.2 million in the second quarter of 2023, a 51% increase over the same period in the prior year, and is targeting an even steeper ramp-up in revenue during the second half of the year. The company reported second quarter 2023 results on Tuesday, reaffirming its target to hit...

Orbex, has appointed a former British Airways exec Lesley Still as its new chief of spaceport operations. The company announced the appointment, Aug. 15. Orbex is advancing preparations for the United Kingdom’s mainland’s inaugural vertical rocket launch. Still will oversee the operational management of Sutherland (formerly Space Hub Sutherland), ensuring its readiness for the first...

AST SpaceMobile secured a financing package that funds the launch of its first five direct-to-cell commercial satellites, the company announced Monday.  CFO Sean Walllace said the company secured up to $115 million in loans, in addition to a $57 million common stock offering and $7 million raised under a market program. Atlas Credit Partners announced...

Astra Space recently laid off 70 employees and reallocated other employees from its launch business to its spacecraft engine team in a bid to manage expenses and put more resources toward its engine business.  Astra debuted as a prospective smallsat launcher and was focused on developing smallsat launch capability, but the company hit roadblocks with...

Planet has closed its acquisition of Slovenian company Sinergise to expand and enhance its Earth Data Platform. Planet announced the acquisition in March of this year.   Sinergise makes the technology that powers the Sentinel Hub API that makes Sentinel and Landsat satellite data accessible. Planet said it is committed to supporting the Earth Observation market...