TAMPA, Fla. — Luxembourg’s government has backed a major chunk of OQ Technology’s ongoing 30 million euro ($32 million) Series B funding round, according to the Luxembourg-based operator of small narrowband satellites.
OQ Technology announced an investment Oct. 21 from the Luxembourg Space Sector Development (LSSD), which the government co-runs with SES, a multi-orbit satellite fleet operator also based in the country.
A spokesperson for OQ Technology said the investment covers a “significant part” of the Series B’s target, adding that it comes via a loan that…