Virgin Orbit Seeking Over $100 Million As ‘Jaw Dropping’ Costs Mount And Small Satellite Market Narrows

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Sir Richard Branson’s Virgin Orbit has not yet reached orbit, or even space for that matter. But for Orbit’s team it’s “the right time” to bring in outside investors and potential partners.

With a second test pencilled in before the year’s end, the pressure is on for Virgin to make good on the money spent and bring their launch offer to market before someone else gets there first., feel they now have proof that the technology could and would actually work.

“Most of them are going to die. It is going to be bloody and brutal.” Meagan Crawford, from the Houston-based venture capital SpaceFund tellsof the 130-odd launch businesses she’s currently watching. For Crawford the market is now “much smaller” than any of the small satellite launcher companies really “think it is.” Adding that although a small pool will thrive, For Crawford, the real test for Virgin is in the timing of their arrival to market, and not the money spent.

 

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