South Africa’s Satellite Maker Dragonfly Acquired by Max Polyakov
By Space Coast Daily // July 13, 2021
One of the wealthiest entrepreneurs in the world today, Max Polyakov has acquired the well-known satellite maker from South Africa, Dragonfly Aerospace. According to sources, this particular deal will become the businessman’s anchor point for the booming small-satellite technology. Additionally, this deal can also become a revenue source for Firefly Aerospace, which is owned in a significant portion by Polyakov’s Noosphere Ventures.
Max Polyakov has not disclosed how much the deal cost him.
Why Is This Acquisition So Critical?
Amid the frenzy of capital infusions and blank deals in the space market, there has been a rise in a new breed of firms that are building miniaturized launch systems. These firms are trying to raise money because they need exponential development to produce compact satellites to send to space in the future.
Additionally, Firefly is now aiming to raise $350 million over 12 months via multiple tranches. This will be done as a part of the plan to expand its production and introduce the market to its higher-capacity Beta rocket. The article also states that an announcement regarding the initial infusion may be very well on its way.
It has also been stated that the satellites by Dragonfly could be launched on Firefly’s Alpha rocket; Polyakov hoped to launch the first rocket before the end of June.
The entrepreneur also aims to build up to 48 satellites each year for the civil space and commercial industry. Furthermore, Max Polyakov wants to expand the presence of Dragonfly on the space market with its new facilities in Europe and the US.
Firefly, the New Zealand-US joint startup Rocket Lab, and Virgin Orbit, the billionaire entrepreneur Richard Branson’s initiative, are the first among small-launch providers willing to cash in on the trendy small satellite launches.
This sudden boom takes its roots in many factors, like venture cash inflow and technological innovations that have reduced the size of satellites while increasing their use cases, ranging from climate studies to national security and communications.