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.
Backers included existing investor Lockheed Martin, Beach Point Capital managed funds, and Goldman Sachs.
The company intends to use the funds to purchase additional manufacturing equipment for its new, 40,000 square foot design and production facility, and to expand its workforce.
Founded in 2013 by Marc Bell, co-founder and Chairman, and Tony Previte, co-founder and Chief Executive Officer, Terran Orbital provides end-to-end nanosatellite and microsatellite services and solutions for U.S. government agencies and commercial enterprises.
The company’s new facility will be capable of supporting the design and production of the largest constellations.
Original published at: http://www.finsmes.com/2018/08/terran-orbital-completes-36m-series-b-financing.html