Space Daily: Satellite company Spire Global plans to expand with new funds
Such a high value is outsized compared to the company’s current annual revenue, which is about $36 million, said [NSR]. “Spire has broken down barriers in many instances, with respect to getting some customers signed up to their service,” [they] said. “But signing up additional customers, especially in new industries, could prove more challenging than they realize.”
That’s because tech companies often encounter unforeseen issues when trying to apply a service to a broad set of new customers, Northern Sky believes Spire will find new customers for climate and fuel-efficiency services. “We think that those opportunities are growing, but there’s going to be new competition also,”.