Technology
Atomos Space’s first orbital mission is a trial by fire
Few missions more vividly embody the maxim “space is hard” than Atomos Space’s first demonstration mission, which the corporate managed to drag back from the brink of disaster – greater than once.
This demonstration mission, called Mission-1, was launched into orbit on a SpaceX Falcon 9 rocket on March 4. The mission’s goals are extremely ambitious: the 2 spacecraft – an orbital transfer vehicle called Quark-LITE and a goal vehicle called Gluon – will ultimately reveal extremely complex maneuvers, including rendezvous, docking, orbital transfer and in-orbit refueling.
The company faced two major problems related to communication and the rotation rate of the spacecraft – and (largely) solved each problems despite massive limitations, sparse data packets, and very limited bandwidth. (So limited, in reality, that the team needed to limit flight software updates to a text string of just 145 characters).
“It was relentless,” Atomos CEO and co-founder Vanessa Clark told TechCrunch.
William Kowalski, COO and co-founder of the corporate, agreed. “What makes it so difficult is that even in our situation, we’re trying to extrapolate the status of a very complicated system from maybe 100 bytes of data,” he said. “That’s a lot. You guess what’s causing it, knowing that a few of those guesses could lead on you down a path from which you may never get well.”
Problems began just hours after the 2 interconnected spacecraft were launched from the Falcon 9 upper stage. The deployment was nominal, and Atomos received the first signal from the spacecraft seven minutes after deployment. The mood was solemn.
But 40 minutes passed before the corporate received one other signal. Then eight hours.
Atomos expected data packets every jiffy.
“The worst (day) was Monday, when we took off, that evening,” Kowalski said. “It was 11 p.m. at night, it was me and the chief engineer… and we didn’t hear anything and we just think: Have we failed? Did they die? We gave it a shot, but it just didn’t work. It was really a punch in the gut.”
Mission controllers didn’t discover the basis cause until 24 to 48 hours after deployment, and did so with the assistance of one other company with on-orbit assets. After pulling some strings, they managed to speak on the phone to the chief systems engineer of the satellite communications company Iridium. The spacecraft used third-party modems that used the Iridium intersatellite link network and likewise used the Iridium constellation as relay satellites. The Atomos spacecraft was moving too fast and in direct contrast, it couldn’t perform a data “handshake” with the Iridium satellites to truly transmit the knowledge back to Earth.
Atomos engineers implemented a series of software updates that reduced duty cycles and ensured that the radios would all the time be on, even when the spacecraft was in a low-power state.
When engineers tried to resolve the communication problem, nevertheless, they encountered one other problem: the spacecraft was rolling at an especially high rate of 55 degrees per second (they were designed to deal with roll rates of as much as 5 degrees per second). In addition, the spacecraft slowly rotated in order that the solar panels not faced the sun. This meant it was a race against time and the spacecraft’s batteries completely depleted.
“We had two charts,” Kowalski said. “We plotted our power trend for when we predict we will probably be facing away from the sun and have (at) zero power, in addition to the sink rate. The removal rate needed to be delivered to zero before the ability dropped to zero.
The problem was exacerbated by limited communication; teams weren’t in a position to definitively confirm that anything was mistaken until the fourth day after deployment, and the spacecraft could only process recent commands between long periods of what were essentially communications blackouts.
Slowly, over the course of several days, they managed to slow the spacecraft down. The team achieved one other major victory after they were able to ascertain high-bandwidth communications, a space-to-space link on a Quark-LITE device communicating via the Inmarsat network. On Thursday, the corporate made its first attempt at establishing broadband connectivity and successfully maintained communication with the spacecraft for six minutes.
During this era, mission controllers received 17 times more data than since launch. As a result, mission controllers received enormous amounts of information on the state of the spacecraft. The news wasn’t all positive – certainly one of the OTV batteries was badly damaged by aggressive cycling and it appears the GPS aboard certainly one of the spacecraft needed to be reset – but these are easy fixes, Clark said.
The company plans to begin commissioning the drive system on Tuesday or Wednesday. If all goes in response to plan and engineers determine that the support system provides accuracy and aiming control, they are going to test operation without torque bars and response wheels. The company intends to deploy the spacecraft inside about a month, with all mission objectives expected to be achieved by the top of June.
Kowalski and Clark attribute a part of the startup’s success to the incontrovertible fact that it is highly vertically integrated. The team, which worked 100 hours per week within the first week after deployment, was in a position to use their in-depth knowledge of spacecraft design to resolve emerging problems.
“It was obviously very painful, but it is reminiscent of the words of the CEO of Nvidia: ‘I wish you great suffering.’ We went through it and it wasn’t great at the moment, but now that we’ve gotten there, we’re definitely better,” Clark said.
Technology
Sequoia increases its 2020 fund by 25%
Sequoia says no going out, no problem.
According to data from the Silicon Valley enterprise capital giant, the worth of its Sequoia Capital US Venture XVII fund increased by 24.6% in June at the top of 12 months. Pitchbookwho analyzed data from the University of California Regents Fund.
Sequoia’s margin is notable since the fund hasn’t had any exits yet. This can be a positive development for the 2020 fund vintage, on condition that after the uncertain valuations of 2020 and 2021, this yr’s funds usually are not expected to perform well for any VC. The mismatch is probably going resulting from high AI valuations giving risks a way of an economic recovery that has yet to bear fruit in other sectors. Sequoia is an investor in high-growth artificial intelligence corporations including OpenAI, Glean and Harvey, amongst others.
Sequoia has raised over $800 million for Fund XVII, which closed in 2022.
Technology
Revolut will introduce mortgage loans, smart ATMs and business lending products
Revolutthe London-based fintech unicorn shared several elements of the corporate’s 2025 roadmap at a company event in London on Friday. One of the corporate’s important goals for next yr will be to introduce an AI-enabled assistant that will help its 50 million customers navigate financial apps, manage money and customize software.
Considering that artificial intelligence is at the middle of everyone’s attention, this move shouldn’t be surprising. But an AI assistant could actually help differentiate Revolut from traditional banking services, which have been slower to adapt to latest technologies.
When Revolut launched its app almost 10 years ago, many individuals discovered the concept of debit cards with real-time payment notifications. Users may lock the cardboard from the app.
Many banks now can help you control your card using your phone. However, they’re unlikely to supply AI features that might be useful yet.
In addition to the AI assistant, Revolut announced that it will introduce branded ATMs to the market. These will end in money being spent (obviously), but in addition cards – which could encourage latest sign-ups.
Revolut said it plans so as to add facial recognition features to its ATMs in the longer term, which could help with authentication without using the same old card and PIN protocol. It will be interesting to see the way it implements this technology in a way that complies with European Union data protection regulations, which require explicit consent to make use of biometric data for identification purposes.
According to the corporate, Revolut ATMs will start appearing in Spain in early 2025.
Revolut has had a banking license in Europe for a while, which implies it may offer lending products to its retail customers. It already offers bank cards and personal loans in some countries.
Now the corporate plans to expand into mortgage loans – some of the popular lending products in Europe – with an emphasis on speed. If it’s an easy request, customers should generally expect immediate approval and a final offer inside one business day. However, mortgages are rarely easy, so it will be interesting to see if Revolut overpromises.
It appears that the mortgage market rollout will be slow. Revolut said it was starting in Lithuania, with Ireland and France expected to follow suit. Although all these premieres are scheduled for 2025.
Finally, Revolut intends to expand its business offering in Europe with its first loan products and savings accounts. In the payments space, it will enable business customers to supply “buy now, pay later” payment options.
Revolut will introduce Revolut kiosks with biometric payments especially for restaurants and stores.
If all these features seem overwhelming, it’s because Revolut is consistently committed to product development, rolling out latest features quickly. And 2025 looks no different.
Technology
Flipkart co-founder Binny Bansal is leaving PhonePe’s board
Flipkart co-founder Binny Bansal has stepped down three-quarters from PhonePe’s board after making an identical move on the e-commerce giant.
Bengaluru-based PhonePe said it has appointed Manish Sabharwal, executive director at recruitment and human resources firm Teamlease, as an independent director and chairman of the audit committee.
Bansal played a key role in Flipkart’s acquisition of PhonePe in 2016 and has since served on the fintech’s board. The Walmart-backed startup, which operates India’s hottest mobile payment app, spun off from Flipkart in 2022 and was valued at $12 billion in funding rounds that raised about $850 million last 12 months.
Bansal still holds about 1% of PhonePe. Neither party explained why they were leaving the board.
“I would like to express my heartfelt gratitude to Binny Bansal for being one of the first and staunchest supporters of PhonePe,” Sameer Nigam, co-founder and CEO of PhonePe, said in a press release. His lively involvement, strategic advice and private mentoring have profoundly enriched our discussions. We will miss Binny!”
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