Finance

Spanish launcher in development PLD Space has raised 78 million euros ($84 million) from investors, the company announced Tuesday. The company plans to use the funds to open the first rocket factory in Elche, Spain in mid-2024.  This new funding is in addition to 42 million euros ($45 million) the company received from the Spanish...

Lockheed Martin increased both sales and operating profit in the company’s Space segment in the first quarter of 2024, compared to the same time period in 2023.  Space posted $3.3 billion of sales in Q1. Lockheed Martin reported higher sales on Fleet Ballistic Missile (FBM), and ramp up in the hypersonic and Next Generation Interceptor...

Seraphim Space closed a new venture fund, Seraphim Space Ventures II LP, with backing from satellite operator Eutelsat Communications, Japanese telco NEC and Japanese satellite operator SKY Perfect JSAT. Seraphim announced the first close of the SSV II fund on Monday.  The fund will be focused on investing in Seed and Series A-stage companies. Seraphim...

Dhruva Space, a  space engineering solutions provider based in Hyderabad, India, marked the final close of its Series A funding at 123 Indian crores ($15 million). The funding will go toward the company’s new spacecraft manufacturing facility, business acquisition plans, and product offerings. Dhruva Space announced the end of the funding round on April 22. ...

Iridium saw its fiscal first quarter 2024 (Q1 2024) revenue total decrease 1% year-over-year, largely due to lower equipment revenue. Iridium reported its Q1 2024 results on April 18, reporting total revenue of $203.9 million. This consisted of $148.6 million of service revenue and $55.3 million of revenue in equipment sales and engineering and support...

Orbex, the U.K. rocket company, received 16.7 million pounds ($20.8 million) in funding from a group of six significant investors in an update to its Series C funding round. Investors involved in the deal include 10.5 million pounds ($13 million) of follow-on investment from the Scottish National Investment Bank, venture capital firms Octopus Ventures, BGF,...

Earth imagery provider Satellogic has begun the process of relocating the company to the U.S., and recently received a $30 million strategic investment from cryptocurrency company Tether Investments Limited.  Satellogic gave a number of updates this week in its 2023 full year financial results. The company reported a 68% revenue increase compared to 2022, calling...

Finnish satellite company Iceye raised $93 million in growth funding, led by Finland’s sovereign wealth fund Solidium. Other investors include Move Capital Fund I, Blackwells Capital, Christo Georgiev, and existing investors. Iceye announced the round on Wednesday.  Iceye operates a constellation of satellites that collect synthetic aperture radar (SAR) data, which can monitor Earth at...

Belgium-based satellite manufacturer Aerospacelab acquired AMOS, a company known for opto-mechanical systems used in astronomy and space. Aerospacelab announced the completed acquisition on Monday. Terms of the deal were not announced.  AMOS, also based in Belgium, builds telescopes, space optical instruments, test equipment for space sensors, thermal-vacuum chambers, and complex optomechanical and high-precision mechanical ground...

TechCrunch published a report on Thursday that highlighted how important the success of SpaceX‘s Starlink constellation service is to the company’s long-term financial health. TechCrunch reporter Aria Alamalhodaei obtained SpaceX financial records from more than six years ago. Before Starlink shifted into full gear, NASA contracts accounted for as much as 83% of SpaceX’s revenue....