Some space startups threatened by Silicon Valley Bank failure
Link here. The companies mentioned in the article are Astra, BlackSky, Planet, Redwire, Rocket Lab, and Space Perspective.
Rocket Lab has about 8% of its cash assets now trapped by the closure. All the companies had loans from Silicon Valley Bank, some of which were paid off prior to the crash. This quote suggests the situation is critical for some space startups:
“It’s a very serious situation,” said a space sector entrepreneur who asked not to be identified. “Our balance is suddenly only $450. There has been no communication from SVB even after the event became known. Our primary SVB liaison, who has been very attentive in the past, is unreachable by any means. It’s appalling.”
Link here. The companies mentioned in the article are Astra, BlackSky, Planet, Redwire, Rocket Lab, and Space Perspective.
Rocket Lab has about 8% of its cash assets now trapped by the closure. All the companies had loans from Silicon Valley Bank, some of which were paid off prior to the crash. This quote suggests the situation is critical for some space startups:
“It’s a very serious situation,” said a space sector entrepreneur who asked not to be identified. “Our balance is suddenly only $450. There has been no communication from SVB even after the event became known. Our primary SVB liaison, who has been very attentive in the past, is unreachable by any means. It’s appalling.”









