The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
"I think (rate cuts) will help, but whether they're going to be sufficient to counter the negative trade pressures and global growth slowdown and impact is debatable," one...Central Banksread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
Alibaba held a board meeting before its latest quarterly earnings release last week, during which the board decided to postpone the Hong Kong listing, Reuters reported.Technologyread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
The two countries want to smash the civil aerospace duopoly enjoyed by Airbus and Boeing.Aerospace & Defenseread more
Federal Reserve Chairman Jerome Powell is set to deliver his annual speech on Friday at the Jackson Hole, Wyoming symposium, where he's expected to provide more clarity on the...Asia Marketsread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
U.S. and Asian investors poured $3.7 billion into U.K. tech start-ups in the first seven months of 2019, research shows.Technologyread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately told business executives and free traders that the trade war could end by the 2020 election and that hurdles to an immediate agreement...2020 Electionsread more
into the burgeoning satellite industry.
Loft Orbital is the latest entrant, offering a "rideshare service" of buying satellites and then leasing space onboard to multiple customers. The company announced Monday it raised $3.2 million in a recent seed funding round led by Uncork Capital.
"We want to make the experience of accessing space as easy as buying cloud services from Amazon Web Services, " CEO Antoine de Chassy told CNBC. "Instead of building or buying a satellite for your sensor, just lease space onboard one of our satellites and fly with us."
With its first satellite launch planned for 2019, de Chassy says Loft will now focus on purchasing satellites from manufacturing partners and bringing on more customers. He says Loft is tapping into an underserved market, due to the traditionally complex and capital-heavy requirements for launching a satellite.
"We're targeting the smaller, more fragmented landscape of smaller sensors – roughly $1 million to $2 million per year deal size for us," de Chassy said. "It's similar to how Boeing and Airbus sell aircraft directly to large customers ... but also sell to aircraft leasing companies who lease aircraft to smaller airlines. "
One of the investors in the most recent round, MDI Ventures, is an arm of Telkom Indonesia — the largest telecom company in the southeast Asian country. CEO Nicko Widjaja says his venture capital group has been looking to invest in the space industry for two years, looking at over half a dozen companies throughout the San Francisco bay area and Texas.
"While most are still in early deployment, Loft has already attracted customers and it's related to what we do at Telkom Indonesia," Widjaja said. "What Loft offers makes sense for our corporate customers."
Loft aims to fly 12 to 15 satellites per year, negotiating the launch contracts with rocket companies for its customers and operating the units once in orbit. While recent buzz has focused on the development of smaller cubesats, Loft will fly "washing machine-sized satellites."
"We want to use standard satellites because it enables us to create a USB-like interface," de Chassy added. "Our interface will ultimately be able to accommodate any sensor looking for a ride to space … [which] dramatically reduces the cost and time to integrate and test the satellite."