Support The Moscow Times!

Yury Milner Invests in Satellite Maker Planet Labs

SAN FRANCISCO — Yury Milner, the Russian investor known for his bets on high-flying social media companies Facebook and Twitter, is raising his sights beyond the stratosphere.

Billionaire Milner led a $52 million investment in satellite maker Planet Labs, the firm said in a statement. Planet Labs said it planned to put a fleet of 28 image-gathering satellites into orbit early next year.

The San Francisco-based company aims to make ultra-efficient satellites that it says can capture and transmit more images at lower costs than traditional satellites. It was founded by three physicists who previously worked at NASA's Ames Research Center in Silicon Valley.

Other new investors joining this round include Industry Ventures, Felicis Ventures, Lux Capital, and Ray Rothrock.

Planet Labs' existing investors include Draper Fisher Jurvetson, Capricorn, O'Reilly Alpha Tech Ventures, Founders Fund, First Round Capital, Innovation Endeavors, Data Collective, and AME Cloud Ventures.

Earlier this week, influential startup program Y Combinator said Milner would no longer automatically invest in each of the companies that participate. Twice a year, Y Combinator admits about 50 young companies for instruction in entrepreneurship and introductions to key players in Silicon Valley.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more