Business
Stories on space business, including company updates, funding announcements, and contract awards.
Deutsche Bank Initiates Coverage of $PL and $BKSY
Deutsche Bank has initiated coverage on Planet ($PL) with a $7 price target and BlackSky ($BKSY) with a $3 target, issuing buy ratings on both companies, according to a note seen by Payload. Why EO? Space technology is a difficult and capital-intensive endeavor, which raises red flags for risk-averse investors (and especially when frothy markets…
Cognitive Space Wins Two DoD Contracts
Cognitive Space inked a pair of contracts with the Pentagon on Tuesday to automate and improve how quickly information can be shared in space. A first The SBIR Phase I contract with the Space Development Agency is the company’s “first engagement” with the Space Force office focused on quick development cycles and proliferated constellations, Cognitive…
The Space Insurance Landscape
Launching satellites to space is a risky business. The field of orbitally proven vehicles remains small, sensor and payload technology is new and constantly changing, and certain orbital regimes are getting more crowded by the month. Insurers, of course, are no strangers to risk. The space insurance industry dates back nearly 60 years. But the…
Boeing Reports Q3 Results
Boeing ($BA) reported a $3.3B loss in the third quarter on Wednesday, which included significant hits to its space and defense business segment. The losses to fixed-price programs, including the Starliner capsule built for NASA’s Commercial Crew program, were partially offset by more commercial airplane sales. By the numbers: 3Q revenue = $16B, up 4%…
Orbex Secures £40.4M in Series C Funding
Orbex announced earlier today that it had successfully closed a £40.4M ($46.3M) Series C funding round. This latest round of funding pushes the company’s total funding to date past $100 million, making it one of the most well-funded launch startups in Europe. Road to $100+ million July 2018: £30M (approximately $33.8M) funding round that included…
SpaceX and NASA Explore Raising Hubble’s Orbit
Hubble needs a boost, and SpaceX has stepped up to provide it. Yesterday, NASA and SpaceX announced that they’ve teamed up through an unfunded Space Act agreement to conduct a feasibility study into whether a crewed commercial mission could boost Hubble’s orbit and extend its lifetime. Hubble: an abridged history When the Hubble space telescope…
Starlink Passes Two Million Downloads in 2022
The Starlink mobile app has 2M+ downloads in 2022, per third-party estimates from 42matters, a Swiss mobile intelligence provider. The tally includes both installs on Android’s Google Play marketplace and the iOS App Store. Starlink saw ~90,000 downloads over the weekend, 42matters’ Alexander Braelow told Payload. The spike occurred shortly after SpaceX activated Starlink in…
Slingshot Offers Beacon SSA Platform Free of Charge
In an attempt to get as many space operators communicating on the same platform as possible to lower collision risks in space, Slingshot Aerospace today announced that it plans to offer a version of its Beacon space situational awareness (SSA) platform for free. “We just feel a grand responsibility here, since we do have the…
TechStars LA Announces September Cohort
TechStars LA has announced its September cohort. This year, seven of the twelve total companies joining the startup accelerator hail from aerospace. TechStars: The startup accelerator began in 2019 with the vision of connecting the innovative technology developing as part of the growing new aerospace industry in LA with the DoD. “I saw an opportunity…
Ursa Major Wins USAF TACFI Contract
The US Air Force is tapping Ursa Major for rocket engines. The Colorado-based propulsion company has signed a $3.6M contract under USAF’s TACFI (Tactical Funding Increase) program to supply a flight-qualified, oxygen-rich staged combustion (ORSC) Hadley engine. The contract, Ursa Major CEO Joe Laurienti told Payload, is the first of its kind in propulsion. “More…
Space in Africa Releases Industry Report
Earlier this week, Space in Africa published its report on the state of the African space industry. Between 2019 and 2021, the “new space” industry in Africa has reportedly seen major growth, and is valued at $19.5B as of the end of 2021. Africa’s space: The space industry in Africa is currently dominated by global…
Benchmark Announces Last-Minute Collision Avoidance Kit
Benchmark Space Systems is ready to bring a last-minute collision avoidance kit to market, the Vermont startup said this morning. Dubbed COLA, the tiny thruster system is designed compactly so it can be retrofitted onto satellites that already have finalized designs, Benchmark EVP Chris Carella told Payload. All that junk out there: The orbital environment…
Report: SES, Intelsat in Merger Talks
Consolidation is the order of the day in the legacy satellite world. The latest: Luxembourg-based SES and American satellite operator Intelsat are in talks to tie the knot, the FT reports. The GEO operators are long-standing competitors, and in recent memory, duked it out in bankruptcy court. Is it time to let bygones be bygones? …
