Startup NewSpace Networks invests $200M to promote software-centric space industry

Aerospace software and investment company- NewSpace Network has recently announced to invest $200 million in an attempt to transform the hardware-focused space industry into more software-centric.

According to reports, in order to achieve this aim the startup is planning to put efforts into investment, acquisition and internal product development. Furthermore, company spokesperson also said they have products in development which will be available later during the year, in addition to other acquisition targets.

With the latest venture, NewSpace plans to change the currently costly, slow and highly proprietary aerospace infrastructure. In order to attain the goals, it will allegedly focus on efficiency, scalability, affordability and adaptability for multiple market segments.

Furthermore, the company stated that its initial products will address unique challenges of edge computing via space connectivity.

In the wake of the new announcement, co-founder Shaun Coleman commented, “Digital terrestrial transformation would not be occurring without the internet and cloud computing. The successful commercialization of space will only be achieved with similar software-based infrastructure to innovate upon. Yet, today there is no purpose-built Amazon AWS, VMware or Cisco for aerospace deployments. NewSpace is building, partnering and acquiring this much-needed capability.”