TAMPA, FLORIDA — Exodus Orbitals is a company that creates software that allows users to upload and operate apps from space. The leasing of satellites has become a hot topic.
Amendments in strategy
According to Exodus Orbitals founder and CEO Dennis Silin, the company is altering its approach to accelerate the commencement of commercial operations as it attempts to raise its first investment round. “The launch delay is unrelated to our financial situation,” Silin explained.
Silin is a software engineer and the founder of Exodus Orbitals, a company based in Canada that launched in 2019. In early October, he claimed, his team made its first cross-border journey to Silicon Valley, California, to meet potential investors.
The startup is seeking $1.5 million in funding to launch its first satellite and expand its activities, which already include leasing space on other smallsats.
“Other satellite providers we’ve spoken to say that their next generation of satellites, due to launch in the coming years, will enable this kind of operations.”
In June, the Canadian company announced that it has successfully flight-tested the software required to run its open platform on OPS-SAT. The European Space Agency‘s CubeSat will be used as a testbed for improved software-driven capabilities in orbit.
Choosing the Partner
Exodus Orbitals has picked an unknown U.S. partner, as well as a launch provider, to develop a satellite that expands OPS-capabilities SAT’s for the commercial sector.
The 3U CubeSat is a fraction of the size of the satellite Exodus Orbitals is planning. The ESA spacecraft, according to Silin, can host “hundreds of different software applications.” This comprises ten to twenty that have immediate commercial applications. These include everything from detecting space debris to data compression and error correction procedures.
Silin claimed its production contract is “on hold” until the company’s current funding round is completed. In addition, the corporation is deferring leasing a satellite until it can raise at least some new funds.
“We don’t need to complete the funding round to sign any leasing contracts,” he noted, “but we do need to hit a specific threshold.”
A fresh agreement with SaaS
Exodus Orbitals is also organizing a working group to promote the satellite-as-a-service concept and define industry-wide technical specifications.
According to Silin, an increasing number of space entrepreneurs are using satellite-as-a-service business models. However, “considerable efforts in advertising and education about its existing and future possibilities to both potential customers and investors” are still required for the concept to succeed.
Adding more, he said that the work group’s objective is also to promote more partnership and sharing of information among its members, loaning an approach observed in the IT sector.