Investment utilization by SpinLaunch in its $30M Series C round

SpinLaunch, the California-based company known for its kinetic launch technology, has announced the closure of a $18M Series C funding round for the development of a Low Earth Orbit (LEO) satellite broadband constellation called Meridian Space.

The funding, led by longtime investor ATW Partners, will be used to build over 280 satellites for the Meridian constellation, with Kongsberg NanoAvionics and LeoLabs taking on the contract for their production.

The Meridian satellites are designed to be deployed in fixed-track orbits, a move that simplifies ground station architecture and promises to deliver cost-effective satellite broadband services.

One of the key features of the Meridian satellites is their use of reflectarray antenna technology. First demonstrated in space by NASA's Jet Propulsion Laboratory in 2018, this technology offers similar performance to traditional satcom antennas while using a fraction of the power.

SpinLaunch has also secured an agreement with an undisclosed launcher to fly its first reflectarray antenna, with the aim of demonstrating a customer link by the end of 2026.

The first equatorial constellation of 30 satellites is expected to offer 300 gigabits per second of connectivity, with the full global Meridian constellation reaching a capacity of two terabits per second - twice that of the OneWeb first-gen constellation, according to SpinLaunch CEO Massimiliano Ladovaz.

The company plans to deploy its first equatorial constellation of 30 satellites in late 2027, and aims to deploy another 250 satellites to offer global coverage by 2030.

Despite the push to develop a global satcom constellation, SpinLaunch's long-term vision remains unchanged, according to Ladovaz. The company will continue to develop its unique launch system, which is designed to launch smaller payloads in rapid succession.

Connections to cheaper user terminals that don't have to search for a signal will be possible with the Meridian constellation, making satellite broadband more accessible than ever before.

With this latest funding round, SpinLaunch has raised a total of $203M to date. The company continues testing its reflectarray antenna during the coming months, paving the way for the deployment of the Meridian constellation.