GapSat, a company that resells underused satellite capacity, is entering the market with a satellite of its own through the Lockheed Martin-backed Terran Orbital.
GapSat, a leader in providing interim satellite solutions, has commissioned a geosynchronous satellite from Terran Orbital Corporation, a leading aerospace provider of small satellites and services.
Founded in 2013 with its headquarters in Irvine, California, Terran Orbital had worked on around 80 projects by 2017, according to comments made by CEO Anthony Previte in a Satellite Today piece, with the majority of its customers in the defense and intelligence sectors – one explanation for the company’s tight-lipped policies. The national security community doesn’t like a lot of flash from its vendors, so Terran Orbital’s low-profile is an asset.
Terran Orbital Corporation, an Irvine, California-based provider of end-to-end nanosatellite and microsatellite services and solutions for government agencies and commercial enterprises, raised $36m in Series B funding.
Lockheed Martin’s venture capital arm has boosted its investment in small satellite manufacturer Terran Orbital one year after the initial partnership was announced between both entities. Terran Orbital said Monday it raised $36 million in “Series B” funding from Lockheed, along with a pair of new investors in Beach Point Capital and Goldman Sachs. Other details were not disclosed, including the terms of investments from Lockheed Martin Ventures and the others.
Lockheed Martin Corp. has increased its investment in nanosatellite company Terran Orbital.