On May 8th 2015, Audacy was awarded 1st Prize at the annual Stanford BASES competition with over 200 startups pitching their ideas. This week, 2 years later, we had the opportunity to return to Stanford and present Audacy’s progress to the next generation of aspiring entrepreneurs.
Audacy has received an official Letter of Interest from the Export-Import Bank of the United States (“Ex-Im Bank” or “Ex-Im”) to fund the manufacture of our satellite constellation for up to $510 million. In addition to our valued venture partners, debt financing is an important component in developing Audacy’s game changing space communications platform, and we are thrilled by this latest vote of confidence from such a highly reputable source.
This week Audacy incorporated its new Singapore location, Audacy Pte Ltd. We always knew going into this endeavor that it would be an undertaking of global scale, and expanding Audacy into Asia is absolutely crucial for our success. Not only does Singapore offer world class data connectivity and a highly educated workforce, but it also happens to be one of the most beautiful cities on the planet.
The toughest challenge in building a space business, is architecting meaningful milestones into the roadmap. The King and Queen of startup survival areProtoypes and Sales; they enable iterative learning, evidence of market traction, and a back loaded funding profile minimizing investment risk. Audacy’s roadmap is laid out in five phases, accomplishing all of these objectives.
Audacy democratizes access to space based data, by making something expensive and complex (space communications), ridiculously simple: build, fly, logon, done. We do all the heavy lifting of creating interplanetary infrastructure for our users, so they don’t have to. Building a system this comprehensive takes money; too much for venture funding alone. That’s why Audacy is leveraging project financing (debt funding) in addition to venture partner investments to take our system from concept to reality.
We are proud to announce that Livingston Holder has agreed to join Audacy as an independent Director of the Board. With a background spanning 40 years and every aspect of the space industry across government, traditional, and entrepreneurial space, he brings a wealth of experience to the Audacy team.
After five design cycles and thousands of system trades, Audacy’s architecture is finally complete! This morning the Audacy engineering team presented the results of months of work during a design review attended by a select group of potential customers. After evaluating every possible spacecraft configuration from vast low Earth orbit constellations to distant lunar nodes, we have arrived at the configuration that optimizes customer link performance, spectral efficiency, and spacecraft lifetime, while minimizing system cost, schedule, and technical risk.
Audacy has exceeded $1B of customer lifetime value in its sales pipeline. This closes another Phase II goal; making it the 3rd completed objective of 8 defined in the Audacy roadmap for the current phase.
Audacy was invited to present yesterday to an audience of over 300 leaders in aerospace, government, and VC at an event co-hosted by the Starburst Accelerator and NASA. The event was held at the NASA Ames Research Park in Mountain View, CA and featured a range of innovative space industry startups. Audacy’s presentation was received with excitement and we are pursuing several new partnership opportunities that emerged from the event. The event featured exciting presentations from other startups, including Deep Space Industries, Rocket Lab, Enbio, and Ursa.
I’m Katie, Head of Business Development at Audacy. My job is to work with customers and other strategic partners to make sure Audacy is building the best communications solution to meet client needs. Last week I was in Luxembourg, along with our CEO Ralph Ewig, attending the Europe Space Forum at the ICT Spring 2016 event. This two-day innovation summit explored the impact of space technology on mobility, the internet of things (IoT), connectivity, security, and climate.