The funding includes new infusions from existing investors, including lead investor ATW Partners. It also includes previously announced strategic investments of 12 million dollars from Kongsberg Defense & Aerospace, whose subsidiary Kongsberg NanoAvionics was awarded the construction contract 280 satellites for the initial constellation.
Last month, SpinLaunch hired former OneWeb CTO Massimiliano Ladovaza as CEO to lead plans for Meridian Space. Ladovaz led the deployment of the OneWeb constellation and helped establish the Airbus-OneWeb joint manufacturing enterprise.
SpinLaunch stated, that there is "a growing demand for a cost-effective open-architecture low-orbit satellite communications system". The company reports, which has completed full-scale testing of its own multi-band reflector antenna. The reconfigurable antenna is designed with energy efficiency and scalability in mind, and one of the favorable factors, according to Spinlaunch, is a design with "ultra-low" capital costs.
The company declares, which plans to establish the first connection in the interests of customers in the second half 2026 year.
Source: https://www.satellitetoday.com