LeoSat suspends operations following failure to secure enough financing

by | Nov 14, 2019 | Constellation, Finance, Seradata News

LeoSat Enterprises, a new space company based in the USA, has reportedly had to suspend operations after failing to raise enough interest in its US$50 million Series A round of funding. LeoSat was planning to launch a 100-strong constellation of interconnected, Ka-band satellites for B2B and secure messaging services. The company is understood to have garnered around US$2 billion in customer commitment letters. It had also received some small investment from FSS operators Sky Perfect JSAT, of Japan, and Hispasat, of Spain. However, JSAT and Hispasat were unwilling to provide further funding to the project.

The full story was originally reported by Peter B. de Selding, at SpaceIntelReport.

LeoSat logo. Courtesy of LeoSat Enterprises.


About Seradata

Seradata produce the renowned SpaceTrak Launch & Satellite Database. Trusted by 100 of the world’s leading Space organisations, SpaceTrak is a fully queryable database used for market analysis, failure/risk assessment, spectrum analysis and space situational awareness (SSA).

For more information go to www.seradata.com/spacetrak

Related Articles

FCC approves new SpaceX 7,500 V-band satellite constellation in addition to three smaller constellations from Telesat, Kepler and LeoSat

During November, the US Federal Communications Commission (FCC) approved the applications of four large-scale communications satellite constellations in Low Earth Orbit (LEO), which Read more

LEO satellite market moves: LeoSat gains an investor while Globalstar looks for a buyer

Sky Perfect JSAT Corporation (SJC), the leading Asian Fixed Satellite Service (FSS) operator in the geostationary arc, has announced that it will invest Read more

Space Industry News: Multiple non-GEO coms network proposals submitted to FCC

On 15 November 2016, the deadline passed for "additional applications" to the FCC (Federal Communications Commission) for the use of Read more

Space Industry Focus: LeoSat Enterprises

This month Tim Fuller examines LeoSat Enterprises and its prospects for operating its proposed new Low Earth Orbit (LEO) communications Read more

SpaceX launches 52 Starlink Group 4-26 satellites

After a slight delay due to upper-level winds in the vicinity of the launch site, SpaceX’s Falcon 9 successfully launched Read more

China launches 16 EO sats on a Long March 6 rocket

China launched a Long March 6 (CZ-6) rocket at 0450 GMT on 10 August from the Taiyuan Satellite Launch Center. Read more

Launch on 9 August: a Ceres-1 rocket flies successfully again on third flight

Galactic Energy of China launched the third Ceres-1 (aka Gushenxing-1) solid rocket four-stage launch vehicle successfully with its lift off Read more

Firefly to help build Antares 330 stage after Russian engine supply halted

Northrop Grumman Corporation and launch vehicle manufacturer Firefly Aerospace have joined forces to provide an American-built first-stage upgrade for the Read more