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Albedo Raises $35M to Commercialize Very Low Earth Orbit (VLEO)

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Albedo, Standard Investments

Albedo, the first company to offer aerial quality imagery from space - enabled by the new orbit frontier of VLEO (very low earth orbit) - today announced a $35M Series A-1 financing round led by Standard Investments, bringing the company’s total funding to $97M. Participation in the round included new investors Booz Allen Ventures, Cubit Capital, and Bill Perkins, along with existing investors Breakthrough Energy Ventures, Shield Capital, Initialized Capital, Y Combinator, Giant Step Capital, Republic Capital, and other undisclosed participants. In addition, Ben Sampson, Managing Director of Standard Investments, will join the Albedo Board of Directors.

“The Series A-1 funding will be used to launch Albedo’s first operational satellite and accelerate constellation deployment — ultimately proving out and proliferating the world’s first high-res VLEO platform,” said Topher Haddad, CEO of Albedo.

Read more at Business Wire