UK-based space startup NewOrbit has closed an $18.5m Series A funding round.
The money will fund the firm's ambitions to orbit its 50 kg NEO-1 satellite in very low-Earth orbit (VLEO), between elevations of 200km and 300km, with a lifespan of up to five years, to make its first commercial launch in 2028.
Voyager Ventures led the round, which the company said was oversubscribed.
– New Orbit
“I believe VLEO will become a critical layer of future space infrastructure, supporting both commercial and national security missions,” Sir Chris Deverell, former commander of UK Joint Forces, and member of NewOrbit’s advisory board, said in a statement “VLEO is one of the few genuinely new commercial categories remaining in space, and opening it requires a rare combination of engineering excellence and institutional discipline.”
