Loft Orbital, a leading player in the space infrastructure arena, has garnered an impressive $170 million in the latest Series C funding activity, notably surpassing its combined total funding of $160 million since its establishment in 2017.
The round saw active participation from investors including Tikehau Capital and Axial Partners; however, the company maintains silence on its valuation. In 2021, it had a post-money valuation of $550 million.
Loft records a staggering total of $330 million raised over its lifetime, with Bpifrance, Foundation Capital, Temasek, and Uncork Capital in its list of prolific contributors. Though the company refrained from disclosing hardcore revenue numbers, according to TechCrunch , Co-founder and COO Alex Greenberg boasts of 100% revenue increase for two consecutive years.
Greenberg rightfully prides in Loft’s capital efficiency with more than $500 million in bookings over a capital of only $160 million. He emphasized the company’s focus on profitability and sustainable business operations.
Loft’s service offering of over 30 sales and 25 deployments of customer missions stand testament to its growing clientele which includes giants like Microsoft, NASA, and BAE Systems, to mention a few.
Andrew Greenberg explains Loft’s simplicity in mission accomplishment – acquisition of standard satellites from vendors like Airbus and LeoStella, attach customer payloads, and launch. He likens the ingenious service process to ‘Lego building blocks’.
Enabling customers to deploy software applications for leveraging on-board sensors and data analyzers, leading to diverse use-cases, Loft offers ‘virtual missions’.
Loft’s plans to bulk up its satellite launches and expand its AI ecosystem will be backed by its newly raised capital.
Original source: Read the full article on TechCrunch
