Loft Orbital Raises $13 Million for “Satellite as a Service” Operation

A Loft Orbital-owned and -operated microsatellite, flying multiple customer payloads onboard as a service. (Credit: Loft Orbital Solutions Inc.)

Loft Orbital has raised a $13 million Series A round led by Foundation Capital.

The San Francisco-based company provides end-to-end service by integrating payloads onto standard microsat buses. Loft Orbital also manages the launch and operations of the satellites.

“Loft’s basic value proposition is twofold. First, for customers who don’t have space-industry expertise but want the benefits of sensing and communications from space, Loft provides white-glove service,” Foundation Capital General Partner Steve Vassallo wrote in a blog post.

“Customers in this category include new commercial players in the space industry and foreign governments that don’t have their own space programs,” he added. “Second, as Loft aggregates the sensors into one satellite and books the launches from all over the world with backup launches, not only is the cost much lower for each customer, speed to orbit is also much faster.”

Vassallo said the company is targeting the fast-growing 75-100 kg (166- 220 lb) microsat market segment. “The market for this microsatellite category is $12 billion at the moment and expected to grow to $35 billion by 2025,” he wrote.

Loft Orbital was founded by three veterans of Spire Global — Antoine De Chassy, Pierre-Damien Vaujour, and Alex Greenberg.