Wednesday, June 13, 2018

Audacy Gets $4M in Venture Debt For Space Communications

Audacy Corporation, which is developing space communications technology, has raised $4M in venture loan, from Horizon Technology Finance Corporation. Terms of that secured loan was not announced. Audacy is venture backed by Envision Ventures and Eight Road Ventures, the venture investment arm of Fidelity Investments. According to Horizon, Audacy will use the proceeds for general working capital purposes. Audacy is led by CEO Ralph Ewig, and says it is developing "relay satellites" to ensure better connectivity to spacecraft. The company says its team comes from Stanford , "NASA award winners", and SpaceX veterans.