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The demand for orbital launches is increasing steadily, and the industry is nowhere near keeping up. Leo Aerospace thinks they can help with a launch technique that’s more efficient and requires far less infrastructure than an ordinary rocket: a hot air balloon. With a rocket attached to it, of course. It sounds wacky at first, but it could prove to be an economical and flexible way of getting to orbit.
Orbit Fab, one of the companies competing in this year’s TechCrunch Disrupt Battlefield in San Francisco this week, has closed a seed round of $3 million. The funding comes from Type 1 Ventures, TechStars and others, and will help Orbit Fab continue to build on the great momentum it has already bootstrapped.