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’s space agency 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.