Monica Jackson
Terran Orbital Corp. has raised $36 million in its Series B funding round, which will be used to hire new employees and procure additional manufacturing equipment for the company’s new nanosatellite production facility.
The Irvine, Calif.-based firm said Monday it received the funds from investors such as Lockheed Martin, Beach Point Capital Management and Goldman Sachs.
Tony Previte, co-founder and CEO of Terran Orbital, stated that creation of a new manufacturing facility will help the company meet the demand of its government, military and commercial customers for nano- and microsatellite systems.
The nano- and microsatellite industry continues to expand as market participants seek to benefit from Terran Orbital’s products and services, according to Marc Bell, chairman of the satellite services provider.
