London-based NewOrbit has raised an oversubscribed $18.5 million Series A round led by Voyager Ventures, as the space technology startup looks to commercialise satellites designed for very low Earth orbit.
Other investors in the round include angel investors David Kirk and Lawrence Leuschner, family office Custos, and existing backers Atlantic.vc, Lifeline Ventures, LGF, and Illusian.
NewOrbit is developing satellites built to operate between 200 and 300 kilometres above Earth, an orbital range that has remained largely inaccessible for commercial missions because of aerodynamic drag, atomic oxygen, and other environmental challenges. The company says its NEO-1 satellite is engineered for long-duration operation in these conditions.
The new funding will go toward the NEO Production Complex, which is planned to open in 2027, as well as the integration of NewOrbit’s first commercial satellite ahead of a planned 2028 launch. The company also plans to expand manufacturing capacity from about ten satellites a year to several a week.
NewOrbit says its technology could support applications including high-resolution Earth imagery, direct-to-phone 5G connectivity, LiDAR from space, and live HD video.
Other investors in the round include angel investors David Kirk and Lawrence Leuschner, family office Custos, and existing backers Atlantic.vc, Lifeline Ventures, LGF, and Illusian.
NewOrbit is developing satellites built to operate between 200 and 300 kilometres above Earth, an orbital range that has remained largely inaccessible for commercial missions because of aerodynamic drag, atomic oxygen, and other environmental challenges. The company says its NEO-1 satellite is engineered for long-duration operation in these conditions.
The new funding will go toward the NEO Production Complex, which is planned to open in 2027, as well as the integration of NewOrbit’s first commercial satellite ahead of a planned 2028 launch. The company also plans to expand manufacturing capacity from about ten satellites a year to several a week.
NewOrbit says its technology could support applications including high-resolution Earth imagery, direct-to-phone 5G connectivity, LiDAR from space, and live HD video.