Yahsat, which also controls Abu Dhabi-based Thuraya Telecommunications, is putting $17.5 million (€16m) into a satellite-based Internet of Things (IoT) operator Astrocast. Astrocast is based in Switzerland and the investment is in the form of a convertible loan and will help with Astrocast’s target which is to raise almost $48 million this year. Astrocast has […]
Virgin Orbit announced March 30th that it is laying off most of its employees, having failed to raise the additional cash to keep the rocket-launching business afloat. In an SEC filing, Virgin Orbit Holdings said it was laying off 675 staff, some 85 per cent of the total. Most had already been furloughed since mid-March […]
Satellite operator Globalstar, which has an agreement with Apple to connect smartphones via satellite for emergency services, has secured a $200 million (€183.6m) loan which means that debts can be paid and puts capital in place for expansion. The Globalstar borrowing comes from an affiliate of Värde Partners, and is in the form of 13 […]
The BBC has published its Annual Plan for 2023/24 which commits to providing a wealth of programming and services for all audiences across the UK, but which recognises the increased savings requirement caused by the 2022 licence fee settlement and economic environment. The publication confirms the BBC maintains its position as the UK’s number one […]
The Canadian government is to invest C$1.2 billion (€0.81bn) into space robotics and satellite business MDA (the former Macdonald, Dettwiler & Associates) and perhaps best known for its Canadarm robotic device used on Space Shuttles. The announcement was made as part of Canada’s annual financial budget. “MDA is extremely pleased to see Canada take a […]
Romanian telco operator Digi is paving the way for becoming the fourth largest operator in Spain following its latest agreement with the global investment group Abrdn to invest €300 million in the FTTH deployment in Andalusia, south of Spain, covering up to 2.5 million homes. The operator already reaches 1 million homes in Andalusia. Digi […]
Sir Richard Branson-backed Virgin Orbit says it is in talks about a $200 million (€183m) rescue package. Virgin Orbit, which launches rockets and their satellite cargoes, has suspended production and placed staff of a payment furlough while it negotiated its way through a cash crunch. The discussions are with Texas-based venture capitalist Matthew Brown about […]
Kleos Space has reported a modest revenue injection from a successful contract for its ‘Vigilance Mission’ but also warned the market that the business is at risk of “underperforming” financially. Kleos is a space-powered defence and intelligence technology company. The cautionary statement appeared in the Kleos annual report, and in a note from auditors Ernst […]
UK full-fibre infrastructure provider Netomnia, along with ISP sister company YouFibre, has raised £230 million (€263m) in committed debt financing. Netomnia has successfully completed its latest fundraise of £230 million in committed debt financing from a group of six bank lenders, comprised of HSBC UK, ING, NIBC, RBC, Standard Chartered, and UKIB. The financing package […]
Denmark-based QuadSat has raised €9 million in fresh funding for its work to measure and calibrate antennas and satellite systems anywhere in the world accurately. The company uses drones to replicate satellites which can then be calibrated on the ground. The new cash comes from existing investors including Seraphim Space, Danish state Vækstfonden, and angel […]