Lumen Orbit, a startup based in Bellevue, Washington, has raised $2.4M in funding. The company’s objective? To build data processing centers in space using hundreds of satellites. The funding allows Lumen Orbit to bolster its research and development efforts and pull its concept of space data storage from vision to reality.
A network of data storage satellites is at the core of Lumen Orbit’s strategy. This project could radically transform data handling, by transferring global data to space, making storage more secure and sustainable. The successful funding round marks a significant validation for Lumen Orbit’s innovative business model.
Investment firms and angel investors alike have conveyed their support for Lumen Orbit’s endeavors. Nebular, Caffeinated Capital, Plug & Play, Everywhere Ventures, Tiny.vc, Sterling Road, and Pareto Holdings are some of the entities that participated in the fundraising round, along with Sequoia Scout Fund who facilitated the investment.
The leadership team at Lumen Orbit comprises CEO Phillip Johnston, CTO Ezra Feilden, and Chief Engineer Adi Oltean, among others. Each member lends their unique expertise in space and tech industries to the team’s collective strength. The team’s broader strategy involves launching a network of orbital data centers, capable of processing raw data and transmitting processed data. This functionality is expected to drastically increase real-time decision-making abilities.
Lumen Orbit aims to launch about 300 satellites into orbit approximately 195 miles above Earth. The first demonstrator satellite is scheduled for a SpaceX Falcon 9 rocket launch in May 2025. The launch will kickstart the deployment process for the remaining 299 satellites. The satellites’ design was aided by Ansys and Solidworks software, while licensing is currently being secured from the Federal Communications Commission and International Telecommunication Union.
The company already has several memorandums of understanding (MOUs) valued above $30 million and a paid user for the initial demonstrator. CEO Johnston asserts the company’s model will generate revenue within 16 months and allow for the launch of a full-fledged prototype by the end of 2025. New satellites and orbital rings will follow sequentially.
Johnston believes that Lumen Orbit’s unique services offer a competitive advantage. “We don’t see anyone else capable of delivering the services that we provide,” he stated. “Our team is driven by innovation, ensuring that we offer the most comprehensive, cutting-edge solutions available on the market.”
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