SpinLaunch made headlines in 2018 by proposing a kinetic launch system as a cost-effective alternative to traditional rocket launches, aiming to launch satellites at a fraction of the cost.
While SpinLaunch has successfully conducted suborbital tests, the company's CEO David Wrenn addressed speculative plans for a $350 million fundraising goal, labeling those figures as 'highly inaccurate and misleading'.
Despite aiming to rival ventures like Starlink with its satellite constellation proposal for global broadband service, SpinLaunch's CEO expresses satisfaction with their recent $11.5 million funding round.
SpinLaunch claims its innovative launch system could enable the placement of satellites weighing up to 200 kilograms into orbit at a significantly reduced cost of $250,000 per launch.
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