Zona Space Systems raises $250 million at a $2.45 billion valuation after launching six satellites

Brian Manning of Zona Space Systems said the company launched six satellites earlier in the week to begin deploying its commercial satellite-navigation service, Pulsar. He described the service as bringing GPS into the modern technology era. That morning, the company announced a $250 million funding round at a $2.45 billion valuation.

The six satellites went up on a SpaceX Falcon rocket. The company is moving from rideshare launches, where it needs only a small fraction of a rocket, toward launching a full set of satellites. Manning said the satellites are being designed to work with any available rocket; the company is also preparing to fly on Starship when it becomes available to commercial customers.

The company expects to fit around 30 current-generation satellites on one rocket and 50–60 second-generation satellites. Manning said denser packing should roughly halve launch costs. Manufacturing is ramping up: he said the company is moving toward producing a couple of satellites per week. The company is applying automotive-industry lessons to production and aims to eliminate unnecessary requirements so it can build satellites more efficiently and cost-effectively.

Manning also explained that the navigation system operates as a one-way broadcast rather than a two-way connection. As a result, he said, once coverage is available in an area, the network can serve an unlimited number of users there without congestion caused by an increase in user numbers.