Space Technology Firm Secures $30M to Advance Satellite Network
Funding Accelerates Development of Low-Cost Broadband Constellation Targeting 2026 Launch
A California-based space technology company has closed $30 million in funding to speed development of its low-earth orbit satellite broadband network. SpinLaunch announced the investment will help accelerate commercialization of its Meridian Space constellation, which aims to provide cost-effective global satellite communications.
"We're not just building momentum - we're earning trust."
Massimiliano Ladovaz, SpinLaunch
The Long Beach-based company received new investment from existing backers including lead investor ATW Partners, along with a strategic investment from Norwegian defense contractor Kongsberg Defense & Aerospace. The funding positions SpinLaunch to establish its first customer connection in the second half of 2026.
"We're not just building momentum - we're earning trust," said Massimiliano Ladovaz, CEO of SpinLaunch. "From technical milestones to collaboration with early adopters, the continued backing of insiders and partners like Kongsberg underscores the credibility of our approach and the progress we've made."
SpinLaunch has completed full-scale testing of its proprietary multi-band reflectarray antenna, a key component that enables the constellation's low-cost design. The company says its reconfigurable antenna offers a more compact and energy-efficient alternative to traditional satellite antennas, which can be bulky and expensive.
"Validating our reconfigurable reflectarray antenna through full-scale testing confirms we can deliver multi-band capability without the cost and complexity of traditional designs," said David Wrenn, Chief Innovation Officer at SpinLaunch. "This is a critical step toward the development of the Meridian Space constellation and achieving both our technical and operational objectives."
The Meridian Space system is designed to provide global coverage using only one traditional rocket launch deploying 250 microsatellites. The company positions the network as offering flexibility and seamless integration for customers seeking satellite communications solutions.
Eirik Lie, president of Kongsberg Defense & Aerospace, said his company chose to partner with SpinLaunch because of their vision and technical capabilities. "This investment reflects our shared belief in their ability to deliver a new model for satellite communications through the Meridian Space constellation," Lie said.
Founded in 2014, SpinLaunch originally developed kinetic launch systems but introduced its satellite communications platform in 2025. The company says it aims to lower the cost and complexity of deploying satellite infrastructure.
Our Take
SpinLaunch first announced its shift from being primarily a novel launch company hoping to use a purpose-built centrifuge to throw small satellites into orbit to a satellite communications provider in April of this year. While the company had success launching payloads on suborbital missions, it struggled to develop the technology that could launch a payload into orbit.
The shift, however, is indicative of the ability of startup space companies to pivot to take advantage of new business opportunities.
SpinLaunch founder Johnathan Yaney stepped back from the company, and endorsed Chief Operating Officer David Wrenn to assume the CEO position. In July of this year, Wrenn was replaced as CEO by Satellite Industry Veteran Massimiliano Ladovaz, who brings 25 years satellite communications experience including a stint with OneWeb to the position. He is also known as a prolific fundraiser. Wrenn remained with the company as Chief Innovation Officer.
SpinLaunch appears to be continuing to develop its centrifugal launch system, potentially to keep launch costs down and in-house. But whether Meridian Space can compete with established satellite Internet/communications providers remains to be seen.
The funding highlights growing investor interest in low-earth orbit satellite networks as companies seek alternatives to traditional satellite communications. SpinLaunch's approach of using fewer satellites deployed in a single launch could reduce costs compared to competitors who require multiple launches.
The company's antenna technology breakthrough may help differentiate its offering in the competitive satellite broadband market.