Satnews Daily
November 15th, 2019

Loft Orbital's $13 Million Funds Operations

Developing a "Satellite-as-a-Service" business is the driving force behind Loft Orbital, based in San Francisco.

 The company acquired Series A funding with a collection of $13 million to support operations in Boulder, Colorado, and Toulouse, France, as the company builds smallsats with initial launches scheduled for 2020.

Five customers have signed on for Loft's first satellite and they include Eutelsat, the UAE Government (flying an imager) and SpaceChain. The company stated they have also signed on customers for the second and third satellites, as well. The firm's business model has customers schedule milestone payments and then participate in a subscription service once the satellite is operational on-orbit.