Lockheed Martin Corp. has increased its investment in nanosatellite company Terran Orbital.
Terran Orbital raised $36 million in a Series B round from investors, including Lockheed Martin, Beach Point Capital managed funds and Goldman Sachs, the company announced Aug. 6. With the new funding, Terran Orbital plans to expand its workforce and buy manufacturing equipment for a new 40,000 square foot facility designed to produce as many as 150 satellites a year.
Israel’s ImageSat International and Terran Orbital Announce Plan To Develop High Performance Microsatellite
ImageSat International N.V., a global leader in end-to-end geospatial solutions, and Terran Orbital Corporation, a leading aerospace provider of nanosatellite and microsatellite vehicles, services, and solutions, announced today that ISI has contracted Terran Orbital to develop a high-performance microsatellite, RUNNERTM, to be used for earth observation and imaging.