Loft Orbital raises 170 million euros and joins the Unicorns club.
The Franco-American startup Loft Orbital, based in Toulouse in France and California, has just completed a series C fundraising of 170 million euros, propelling its valuation beyond one billion euros and giving it the coveted “unicorn” status (start-up in new technologies exceeding a billion euros in valuation). This step marks a major turning point for the space sector in France and Europe (what is known in the jargon as “new space”), with a clear objective of developing a large-scale fleet of satellites from 2025.
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The Toulouse-based Loft Orbital exceeds a billion euros in valuation and joins the prestigious club of space unicorns
Founded in January 2017 by Pierre-Damien Vaujour, Antoine de Chassy and Alex Greenberg, Loft Orbital has quickly established itself as a key player in the development of satellite infrastructure in low orbit. With operations on three continents, the company aims to operate one of the largest fleets of heterogeneous satellites in low Earth orbit. To date, Loft Orbital has deployed five satellites and has more than 30 in production, serving marquee customers such as NASA, CNES, ESA, US Space Force, Microsoft, and other major space players. 'artificial intelligence.
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Fundraising and growth strategy
This latest fundraising, led by Tikehau Capital with Axial Partners as co-lead manager and supported by historical and new investors, such as Bpifrance, Foundation Capital, Temasek, and Uncork Capital, allows Loft Orbital to accelerate the deployment of its fleet. These satellites are designed to host multiple types of missions simultaneously, drawing on cloud service models to maximize efficiency and reduce costs for customers.
Innovation et vision future
Loft Orbital stands out for its innovative approach to space mission management, focusing on speed of deployment thanks to its modular infrastructure. The company's flagship products, Hub and Cockpit, provide flexible solutions for operating large-scale satellite fleets and constellations, revolutionizing the way space missions are deployed. Loft Orbital has developed a model close to that of shared IT infrastructures (cloud computing). Rather than owning a satellite, which is expensive, the user shares, with others, the capabilities of the vehicle, and therefore its operating costs.
A growing company
The company has already completed more than 25 missions for its customers, with five functional satellites already in orbit. It currently produces more than 30 satellites for a diverse clientele, including renowned space agencies such as NASA, CNES, and ESA, defense entities such as the US Space Force and the Space Development Agency, as well as tech giants such as Microsoft and artificial intelligence innovators like Earth Daily, Helsing, and Anduril, for civil and military applications. The company has also just created a new subsidiary, Loft Federal, specifically dedicated to classified US Defense programs, with plans to launch its first satellites for the Space Development Agency in 2025.
-Providing real-time information from space using AI
In the long term, Loft Orbital aims to transform the space industry by exploiting satellites for real-time tactical applications. The company develops satellites with high-value sensors and on-board computing capabilities, enabling the execution of AI-based virtual missions directly on board.
Future plans for Loft Orbital
In addition to its rapid expansion, Loft Orbital also launched Orbitworks, a joint venture with Marlan Space, to establish the first private space infrastructure company in the Middle East, resulting in the creation of a 5,000 m² factory in Abu Dhabi to serve the Middle East market. The company also plans to launch its first two constellations with SpaceX in the second half of the year, strengthening its global presence and impact in the space industry.
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This article explores the rise of Loft Orbital, which, with its recent €170 million fundraising, solidifies its position as a unicorn in the space industry.
Source : https://www.loftorbital.com/news/announcing-lofts-170m-series-c
