Space debris tracker LeoLabs raises $65 million as satellites launch to orbit at unprecedented rate
Summary
LeoLabs, a private venture that tracks objects and debris in low Earth orbit through a network of radars around the world, raised $65 million in capital in a new fundraising round, the company announced on Tuesday. "Its a great endorsement of our success to date and where were headed," LeoLabs CEO Dan Ceperley told CNBC. "Were the largest data provider for [low Earth orbit] in the world now … weve stepped beyond anybody in the public or private [sectors]." Ceperley declined to comment on LeoLabs valuation after this round, but the company added Insight Partners senior advisor Nick Sinai to its board of directors. LeoLabs will use the fresh funds to scale its business in three major ways, with Ceperley expecting the companys headcount to grow from above 40 to more than 60, increase the rate at which it builds radar locations, and roll out new Software-as-a-Service (SaaS) products.