UK startup NewOrbit has raised $18.5 million in Series A funding to develop a new class of Very Low Earth Orbit (VLEO) satellites, targeting its first flight of the NEO-1 satellite in 2028. The investment will support the construction of a production facility capable of producing up to 10 satellites annually, with plans to scale to over 100, as the company aims to capitalize on the growing demand for satellite operations in lower orbits.
The key insight for a professional interested in space tech is NewOrbit's strategic focus on Very Low Earth Orbit (VLEO) satellites, which could provide significant advantages in terms of higher-resolution Earth Observation and lower-latency communications. With its recent $18.5M Series A funding, NewOrbit aims to scale up satellite production, leveraging its team's experience in government VLEO missions to differentiate itself in a market facing congestion in Low Earth Orbit (LEO). This highlights a potential investment opportunity and a shift towards VLEO as a viable space for commercial satellite operations.