PARIS — Satellite in-orbit refueling startup Orbit Fab raised $3 million in Seed round funding from Type 1 Ventures, a new VC, which Orbit Fab said is enough to cover the construction and launch of its first demonstration mission in 2020.
Orbit Fab Co-Founder and Chief Executive Daniel Faber, a former chief executive of Deep Space Industries, said the company estimates it will need $20 million in capital to reach cash-flow break-even and already has contracts to deliver 10 fueling ports to customers this . . .
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