A new rocket startup to be launched Friday says it plans to soon become the first Canadian company to have the capacity to launch medium-payload satellites in space, filling in a potentially important niche in Canada’s defence.
The Toronto-based company has already raised $6.2-million from the Business Development Bank of Canada, a Crown corporation, and a range of private investors including Toronto-based Garage Capital. Canada Rocket Company says the capital that it has raised is the largest round of all-Canadian seed funding ever for a space and defence startup.
The Canadian market alone is expected to be worth about $1-billion between 2033 and 2040, Kolias said.
Canada Rocket says it expects to be able to able to produce the rocket architecture for light-lift vehicles by 2028 when it will have about 150 employees, and then scale up to produce a medium-lift rocket two or three years later.
Take all the money thrown at the big communications companies and put it into Canadian LEO Internet instead.
Canadian Law Enforcement Officer internet?
Low earth orbit, Starlink/Kuyper competitor.
Fuck LEO internet. Geosyncs would be much better, except for ping. But you don’t need a low ping in the middle of nowhere.
Most of Canada is the middle of nowhere. Low ping is critical for telecommunications, which is important strategically and economically.
Most of Canada is uninhabited. And you don’t need low ping for anything important.
You can visit the Canada Rocket Company website for more info.
$6.2M startup for a launch company is piss poor. Light lift vehicles in 24 months? Sure. Sure.
I worry we don’t have the funding to create our own Launch vehicle and infrastructure. I mean, rockets are neat, but
- someone outside america is already doing it, so it’s a reliable service
- we only have so much money before Mark starts taxing richbitches, which isn’t a Liberal habit
- we have lots of problems - infrastructure and defence - that we need to get a handle on as well / first.
