This Week In Space Industry(16/12/2023)

Greetings Detectives

Welcome to Rocket Roundup, Your favorite Saturday space newsletter! We're here to share exciting space news and discoveries with you.

Let's embark on this cosmic journey together! In This Issue:

• FCC denies Starlink subsidy

• Apex’s new Factory

• True Anomaly Closes $100M Series B

FCC issues final denial of $885M Starlink subsidy

The FCC has upheld its decision to deny SpaceX's Starlink an $886 million Rural Digital Opportunity Fund (RDOF) subsidy for expanding internet connectivity in rural areas. The FCC had initially awarded the funds to SpaceX in 2020, but the decision was reversed in 2022, citing concerns about Starlink's user terminal costs and download speeds.

SpaceX appealed the decision, but the FCC stood by its original ruling, stating that Starlink failed to demonstrate its ability to deliver the promised service for the specified locations. FCC Commissioner Brendan Carr dissented, accusing the agency of politicizing the decision. (Read More)

a16z-backed Apex Space opens new factory to ramp satellite bus production

Apex Space, a satellite bus startup, has opened a new headquarters and production facility called Factory One in California. The 46,000-square-foot facility will be crucial for scaling up satellite production to meet customer demand. Apex aims to manufacture 50 satellite platforms annually by 2026.

The company plans to offer three satellite bus classes: Aries (supporting payloads up to 100 kg), Nova (accommodating payloads up to 230 kg), and Comet (carrying payloads up to 500 kg). Apex's innovative approach involves building standard platforms that can be reconfigured for different missions, reducing costs and lead times in the satellite manufacturing process. (Read More)

SpaceX valuation climbs to $180 billion

SpaceX's valuation has reached $180 billion, according to an ongoing secondary share sale. The company is discussing an agreement with investors to sell stock from insiders in a purchase offer at $97 a share, representing a 20% increase from SpaceX’s previous high of $150 billion. This valuation places SpaceX above the market value of top U.S. defense contractors and the most valuable U.S. telecommunications companies.

The secondary sale is expected to close in January and does not involve raising new capital. SpaceX is one of the most valuable private companies globally, earning it the classification of a “centicorn” or “hectocorn” – a $1 billion unicorn, 100 times over. (Read More)

No further investments in Virgin Galactic, says Richard Branson

Richard Branson has stated that he will not invest more money in Virgin Galactic, his space travel firm, indicating that the Virgin Group "no longer has the deepest pockets." Virgin Galactic recently announced job cuts and a suspension of commercial flights for 18 months from 2024. While the company said it has enough funding to last until 2026, analysts expect it might seek additional funds around 2025. Branson mentioned that Virgin Galactic has nearly $1 billion in funding and should have sufficient funds to operate independently. (Read More)

True Anomaly Closes $100M Series B

True Anomaly has successfully raised $100 million in a Series B funding round led by Riot Ventures, with participation from several other investors including Eclipse, ACME Capital, Menlo Ventures, and others. True Anomaly focuses on space security and develops advanced hardware and software systems for space domain awareness, security, and readiness. The company's solutions include dynamic software applications and on-orbit spacecraft for rendezvous and proximity operations (RPO) and non-Earth imaging (NEI). The funding will be used to support the company's mission, invest in its people, products, and services, and further advance its space security technologies. (Read More)

Armada AI Raises $55M Funding

Armada, a startup focused on providing AI-powered tools for edge computing and improving data processing, has emerged from stealth mode with $55 million in funding. The company's ecosystem is built on Starlink, which enables global access to satellite broadband customers. Armada's suite of products includes Galleon data centers that serve as self-contained units for processing capabilities, and applications like Armada Commander, Armada Connect, Armada Edge, and Armada EdgeAI to support edge computing and data processing. The funding was raised across two rounds led by Founders Fund, Lux Capital, Shield Capital, and 8090 Industries, among other investors. (Read More)

OurSky Raises $9.5M Seed

OurSky, a startup founded in 2022, has secured $9.5 million in seed funding led by Upfront Ventures. The company aims to provide a developer platform for space observational data, making it more accessible through a software platform and a global telescope network. OurSky's platform, likened to AWS for developers, offers a modern and cost-effective alternative for companies in the space situational awareness and satellite operations sectors. The funding will be used to accelerate the deployment of telescopes and the development of the platform. OurSky's network currently includes 30 scopes deployed in nine locations globally. (Read More)

Helcity Raises $5M Seed Round

Helicity Space, a startup focused on in-space nuclear fusion propulsion, has raised $5 million in a seed funding round led by Airbus Ventures, with participation from TRE Advisors, Voyager Space Holdings, E2MC Space, Urania Ventures, and Gaingels. The funding will support the company's research and development efforts related to its plasma jets for fusion reactions. Helicity Space aims to harness nuclear fusion for space propulsion, potentially revolutionizing spacecraft travel by enabling faster and more efficient journeys. The company plans to demonstrate plasma jets reconnecting by 2026 and conduct a test flight with fusion augmenting solar electric propulsion by 2032. (Read More)

• Bezos’ Blue Origin aiming to make long-awaited return to launch next week

• Rocket Lab Reaches New Annual Launch Record with 10th Electron Mission This Year

• Mynaric receives US $33 million order from Northrop Grumman

• EUMETSAT Awards Spire Global Multi-Million Euro Contract for Satellite Weather Data

• UK Invests £6.7M to Boost Domestic Launch Industry

• Project Kuiper prototypes successfully test inter-satellite optical links

DISCLAIMER: (Rocket Roundup is an independent publication and is not affiliated with any government agency or space organization)