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    Sunstone Credit secures $20 million in Series A funding round

    Sunstone Credit secures $20 million in Series A funding round

    New-York based Impel secures $104 million in growth funding

    New-York based Impel secures $104 million in growth funding

    Metagenomi bags an extra $100 million before closing its Series B

    Metagenomi bags an extra $100 million before closing its Series B

    Aspen Neuroscience sign $40 million debt deal with Silicon Valley Bank

    Aspen Neuroscience sign $40 million debt deal with Silicon Valley Bank

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      Sunstone Credit secures $20 million in Series A funding round

      Sunstone Credit secures $20 million in Series A funding round

      New-York based Impel secures $104 million in growth funding

      New-York based Impel secures $104 million in growth funding

      Metagenomi bags an extra $100 million before closing its Series B

      Metagenomi bags an extra $100 million before closing its Series B

      Aspen Neuroscience sign $40 million debt deal with Silicon Valley Bank

      Aspen Neuroscience sign $40 million debt deal with Silicon Valley Bank

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      Home Space

      Phantom Space Corp. acquires StratSpace consultancy for growth and supply chain utilization

       582 total views,  1 views today

      USTechTimes Editor by USTechTimes Editor
      June 3, 2021
      Phantom Space

      Phantom Space is a space transportation technology development and manufacturing company

      Share on FacebookShare on Twitter

      Small-rocket mass-manufacturing startup Phantom Space is all set to expand its business model through the recent acquisition of StratSpace, a consultancy, and developer of bespoke space systems and flight hardware.

      Phantom Space Corporation aims to go ahead with mass manufacturing techniques never yet seen in the space industry. In May this year, Phantom Space Corporation announced raising $ 5 million capital. Founding company members are taking a swing at space once again after they previously worked at another Tucson space startup that filed for bankruptcy in 2019.

      Michal Prywata, Co-Founder Phantom Space, said, “Our goal at Phantom is to create a world where access to space truly is democratized, and anyone could effectively launch satellites on their schedule and to an orbital plane of their choosing for their given application, and we are excited to accelerate this work through the acquisition of StratSpace.” 

      Phantom to offer more space access with acquisition

      Phantom Space has acquired Tucson, Arizona-based flight hardware developer StratSpace for an undisclosed amount in a move to expand satellite launch and data infrastructure offerings. Phantom said it aims to offer daily space access by integrating the company’s Daytona and Laguna rocket platforms with core StratSpace technology assets.

      StratSpace has helped customers build, engineer and manage systems for 46 space programs over 20 years. Clients included Lockheed Martin (NYSE: LMT), Northrop Grumman (NYSE: NOC), Boeing (NYSE: BA), and NASA.

      “[StratSpace] has all the know-how, all the tools, the satellite structures, communication systems that can make a spacecraft operate,” said Prywata. “Which is very critical for us because we want to be one of the first companies that cover that full spectrum of service from start to finish,” he added.

      Founded in 2019, Phantom has booked more than $100 million in contracts to date to support customers’ satellite manufacturing and launch efforts. Phantom hopes to launch its first orbital mission in 2022 or 2023 and has been cutting costs and saving time on research and development by securing access to existing tech.

      Phantom plans to buy and license existing components as much as possible, a radical departure from existing space launch production in which companies such as Space Exploration Technologies Corp., Rocket Lab USA Inc., and Virgin Orbit LLC custom produce nearly all their parts in-house. In Cantrell’s view, most rockets remain too bespoke in their largely handcrafted assembly and, thus, unnecessarily expensive.

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      Tags: AcquisitionPhantom SpaceRocketSpace technologyStratspace
      USTechTimes Editor

      USTechTimes Editor

      USTechTimes.com is an independent new media site that focuses on the latest technology and digital news in the United States and around the world. The site focuses on new startup launching, startup funding, and development in the startup space.

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