The agreement between the companies was signed on Tuesday during the World Satellite Business Week summit in Paris. SatRev said in a statement that it “has secured Series B funding from Virgin Orbit, a US small satellite launch and space solution provider that has announced its planned business merger with NextGen Acquisition Corp.”
As SatRev explains in a statement, “Virgin Orbit supports one of the most flexible and responsive space systemsever built. Founded by Sir Richard Branson in 2017, the company began commercial services in 2021 and has already delivered commercial, civilian, national security and international satellites into orbit. “
Virgin Orbit and SatRev collaboration
“Thanks to our constant cooperation, Virgin Orbit and SatRev will expand opportunities in new markets with Earth observation applications and more – applications that were only dreams yesterday. Together, we will continue Virgin Orbit’s mission to open up outer space for good, ”Virgin Orbit CEO Dan Hart said in the release.
The transaction announced on Tuesday is scheduled to close in the first quarter of 2022.
