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• Loft plans to use the capital in increasing its business and team
• The new round of funding was led by BlackRock
Space infrastructure start-up Loft Orbital raised $140 million in a new round of funding led by BlackRock.
Loft plans to use the capital in increasing its business and team. Earlier this year, Loft launched its first missions to space.
“The best way to think of us is we provide space-infrastructure-as-a-service,” Loft Orbital co-founder and COO Alex Greenberg told CNBC.
“If you’re a customer with either a single payload or a constellation that you want to put in space, but you don’t want to be the one building or designing your own satellite – dealing with the manufacturer, dealing with the launch provider, and then actually operating it once it’s in space – then you work with someone like us,” Greenberg added.
Loft investors
Loft has raised $130 million from investors such as CEAS Investments, Foundation Capital, Uncork Capital, Ubiquity VC and more. An additional $10 million was raised from the same investors through convertible notes.
Other than San Francisco, Loft has manufacturing and facilities in Denver, Colorado and Toulouse, France with 70 employees currently.
Loft has more than 20 customers to date including NASA, DARPA, the U.S. Space Force and Honeywell. The startup has two spacecraft that are in orbit currently known as YAMs or “Yet Another Mission.”
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