Indonesia: Telkom’s MDI Ventures joins $3.2m round in US startup Loft Orbital

Loft Orbital, a San Francisco-based tech startup that leases space on satellites, has raised $3.2 million in a seed financing round led by Uncork Capital. The round was joined by Indonesian state-owned telco firm Telekomunikasi Indonesia via its corporate venture arm, MDI Ventures.

Mercuria Investment Co, the Remote Sensing Technology Center of Japan (RESTEC), and Shobunsha also participated, along with other investors from China, Europe, US, Japan, and the UAE.

Upon investment, Jeff Clavier, managing partner at Uncork Capital, will join Loft Orbital’s board of directors.

Founded in January 2017, Loft Orbital attempts to commercialize satellites by buying a satellite platform and leasing it to customers – be it companies, academics, and government agencies who pay an annual fee.

Loft Capital has said that the funding will be used to expand its global presence and further build out its software products, which allow seamless hosting and operation of customers’ sensors in space.

“The traditional model of purchasing and owning a satellite can be an unnecessary and costly burden to organizations who want to collect unique Earth data,” says Antoine de Chassy, CEO and Co-founder of Loft Orbital.

“By owning and operating the satellites ourselves, we handle all steps of the satellite campaign on the customer’s behalf, including procuring and launching a satellite, and obtaining the proper licenses, insurance, and financing,” he added.

Globally, commercial, academic, and government organizations spend $45 billion a year to collect Earth observation data from space for applications including environmental monitoring, water resources management, disaster assessment, and global security.

However, these organizations have no choice but to spend tens and even hundreds of millions of dollars, face several years of lead time, and hire large staffs of aerospace engineers in order to collect the information they need. Loft Orbital services are aimed to make it easier for an organization to solve this problem.

Also Read:

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Lots of opportunities in SEA for tech innovation, entrepreneurship: Matthew Koertge, Telstra Ventures

Indonesia: KataAi raises $3.5m from Taiwan’s TPTF, MDI Ventures, others

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.