Precious Payload advances from launch booking to mission management, raises funding from a UAE-based fund

LOGAN, UTAH, August 2, 2019, — Precious Payload, now a digital service to manage space missions, announces the pre-seed funding round led by a UAE-based investment firm Forte Mare.

Precious Payload was founded in the USA back in 2017 as a launch booking platform for small satellites. Since then it has connected over 100 space missions to over 25 launch providers through its online service, generating several hundred thousand US dollars of revenue in subscriptions and commissions. This August, the company announces it is changing its business model to deliver complete mission management via an online platform. 

«We had an idea of building a digital freight-forwarder since the early days but decided to focus on launch to prove our software-only approach. The current hype cycle of investment in hardware will end soon, and the market will try to leverage technology to create sustainable businesses. Digital service to fast-track a tech demo or get to the revenue is an ideal way to build a space business.» — says Andrey Maksimov, the company’s CEO.

«Imagine a team of experts that runs those RFI/RFPs for you, navigates through various launch scenarios, connects ground stations, deals with all the paperwork and licenses. Now wrap this all into the online service that keeps everyone on the same page and visualizes all the current and next steps to get your business into space. This is what we are building here.» — says Daria Ryzhkova, the company Chief Product Officer.

To showcase the advantages of the new product, Precious Payload features a first client of the new approach. Pixxel, a satellite constellation and the only Asian participant in an inaugural Techstars Starburst accelerator led by US Air Force, has entrusted Precious Payload to manage their first tech demo mission to be launched in Q4 2020. «Working with the team behind Precious Payload is like a breath of fresh air. You are always aware of what is going on, what are the next steps, what are your options. It enables us to liberate more time and resources to talk to our customers and build our product.» — says Awais Ahmed, the CEO of Pixxel.

Precious Payload delivers the service through the range of industry partners, including Momentus Space, GK Launch Services, Orbital Transports, and others to be announced soon. The company hosts a side meeting on Wednesday, Aug 6, to present the roadmap of the product.

«The team behind Precious Payload has a great track record of building successful cross-border online businesses in regulated industries. We think software companies in Smallsat sector have a unique opportunity to deliver the service globally while keeping overheads low and outpacing the traditional hardware approach.» — says Mike Afonskiy, an asset manager of Forte Mare fund.  

Forte Mare is a private investment vehicle, based in the United Arab Emirates and deploying capital into both private equity and public markets. The fund leads the investment round of undisclosed amount into Precious Payload, which has also been supported by the number of international angel investors.

20+ ways to get to space and beam the data for your business

Why so many entrepreneurs are secretly dreaming about starting a business in space and so few are ending up with building a company? Our guess – wrong thinking ruins many of the great ideas: those who never tried to launch anything to space tend to think that industry barriers are still enormous, launch options are limited to direct injections and a few American, Indian and Russian launch vehicles exist. While the reality is blooming with options and opportunities. 

A little outdated for the year 2019 “Rockets of the world” poster by Tyler Skrabek
Continue Reading

Taking your business into Space. Why 2019?

Elon Musk and Jeff Bezos are the names that come to mind when words like ‘business’ and ‘space’ appear in the same sentence. Indeed, true space enthusiasts, and billionaires to that matter, have put their fortunes on the line to pursue their space dreams. Before them, only governments and established corporations could associate themselves with space industry. 

What about now? Are hundreds of millions still required to cross the high entry barrier? Do you still need your government to support you in building a satellite? Is it still as hard as rocket science is?

Seraphim Space Tech Map by Seraphim Capital
Continue reading

Launch Price Calculator from GK Launch Services

Last month, GK Launch Services, a commercial launch service provider for a Russian Souyz-2 rocket, announced a new service – a launch price calculator for smallsats. The interface available for the users is not exactly new: for the past two years, most of the launch providers started accepting incoming requests online using the forms to collect the basic mission information like size of a satellite, orbit to reach, timeframe, etc. 

Continue reading “Launch Price Calculator from GK Launch Services”

Finding a launch is getting easier even with special orbital requirements

Problem: They say you have to wait up to two years to get the right flight for your specific orbit 🤷‍♀️ 🤷‍♂️.

Solution: ION Carrier is a free-flying CubeSat dispenser capable of delivering satellites to higher altitudes, different orbits, and orbital planes. It is compatible with all the existing launch vehicles and extends current launchers capabilities. Hence you have a wider variety of launches to choose from!

Continue reading “Finding a launch is getting easier even with special orbital requirements”

Smallsat Insurance 101

A satellite is a very valuable asset. It is made to order, extremely fragile and a complex piece of engineering. It must endure the stresses of the launch and then must operate in an alien environment and cannot be fixed if something goes wrong. Therefore, obtaining specialist insurance cover from an insurer that has a deep understanding of the industry is essential for any commercial smallsat operator who is aiming to bring revenue in from its small satellites.

Source: XL Insurance

In a nutshell, there are two principal types of satellite insurance. The first is pre-launch and launch, which covers loss, damage or failure before, during or in the first year if the satellite’s operations – the most critical phases of the satellite’s life. If something does go wrong, it would be most likely to occur during these phases. During post-in-orbit testing, the chances of the satellite failing tend to fall significantly.
Continue reading “Smallsat Insurance 101”

Join our launch campaign survey!

We have created a short survey that will allow us to validate the ideas we have for the next Precious Payload features. We invite everyone who has experience of launching their payload to space or is planning to do it in the next three years to participate and share their experience.  The questions are designed for satellite operators (commercial, governmental, university-based), manufacturers, launch aggregators, and launch service providers. The questionnaire will be available for the next two weeks.

Let us learn from your experience!

[typeform_embed type=”embed” url=”https://preciouspayload.typeform.com/to/Wvv5l7?utm_source=pp_blog&utm_medium=survey&utm_campaign=launch_survey”]