Despite Virgin Orbit’s Challenges, Spacetech Funding Remains Stable
Source Node:
https://platodata.network/platowire/despite-virgin-orbits-challenges-spacetech-funding-remains-stable/
Virgin Orbit, the satellite launch company founded by Sir Richard Branson, has faced several challenges in recent months. In May 2020, the company's first attempt to launch a rocket into space failed due to a malfunction in the rocket's engine. Then, in July 2020, Virgin Orbit announced that it would be laying off around 350 employees due to the economic impact of the COVID-19 pandemic.Despite these setbacks, spacetech funding remains stable. In fact, according to a report by Space Capital, a venture capital firm focused on the space industry, spacetech