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It’s brand new, but it’s already a big name in tech: earlier this year, the Lumen Orbit company launched by a trio of satellite engineers set out to improve space Internet with optimized satellite design.
Now VCs are flocking to the Redmond, WA based company, with a successful $11 million seed round providing a $40 million evaluation for the firm, according to Techcrunch this week.
People were calling it a moonshot, but coming out of Y Combinator’s demo day, Lumen Orbit was already turning heads.
So some big names are on board already, with more to come.
Some of these investors include NFX and Soma Capital, as well as Andreessen Horowitz and Sequoia as other players. Reportedly, there are already plans in place for a new round of funding.
So what does Lumen Orbit do that’s so attractive?
Essentially, the company wants to put orbiting data centers in space.
Proponents tout Lumen Orbit as part of the “new space” economy, where companies and nations are experimenting with the idea of locating data centers beyond the Earth’s atmosphere.
