UK startup NewOrbit has raised an oversubscribed $18.5M Series A to build the first commercial satellite for very low Earth orbit (VLEO), operating at 200-300km altitude. This band has been commercially unused for 60 years due to atmospheric drag, corrosive atomic oxygen, and aerodynamic instability. NewOrbit claims its purpose-built NEO-1 satellite can survive these conditions for up to five years using an in-house propulsion system. The company promises 20x cost reduction versus conventional satellites, higher-resolution imagery, and potential 5G direct-to-device connectivity from space. Funds will build a production facility opening in 2027, with the first commercial launch planned for 2028. Competitors like Univity are also targeting VLEO, but no commercial satellite has yet operated below 300km.
