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Rocket Lab’s sunny weather bodes well for future constellation plans

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Rocket Lab’s sunny outlook bodes well for future constellation plans 

Rocket lab surpassed $100 million in quarterly revenue for the primary time, up 71% from the identical quarter last yr. That’s just one in every of several big accomplishments executives touted to investors on Thursday — and a superb sign for the space company’s ambitious medium-term plans.

Executives continued to tease plans for Rocket Lab’s owned-and-operated satellite constellation, a part of founder and CEO Peter Beck’s stated ambition to develop into a “comprehensive space company.” The company clearly intends to do something just like what SpaceX is doing with its Starlink constellation: beat the competition by owning launch vehicles, together with a highly vertically integrated supply chain that allows rapid production.

“Having the launchers and spacecraft gives us a distinct advantage when it comes to building our own space capabilities or constellations,” Beck said during an earnings conference call Thursday. “We can build and launch our own spacecraft at cost and we don’t have to wait in line for a limited launch capacity. We completely avoid the problem that most constellation operators face: being dependent on vendors for cost and schedule, often causing deeply disruptive delays and bringing capabilities online at scale.”

Beck declined to offer details on exactly what opportunities are being considered, but suggested acquisitions will proceed to play a job in the corporate’s strategy.

But to appreciate its constellation plans, the corporate will first have to launch its medium-lift Neutron rocket. Rocket Lab plans to launch Neutron for the primary time in mid-2025, an especially aggressive timeline: If it hits that date, the corporate says it’s going to be the fastest commercially developed vehicle to go from clean-sheet design to market by way of its weight.

Visualization of Neutron placing satellites into orbit.
Image sources: Rocket lab (opens in recent window)

The rocket will likely be powered by nine all-new engines called Archimedes, which accomplished a key test this month. The “hot fire” test, held at the corporate’s test complex at NASA’s Stennis Space Center in Mississippi, marked the primary time Archimedes had fired at full power on a test stand. Now engineers can move on to a full qualification campaign and production of the following batch of engines.

Aside from the engines, Rocket Lab said the complete Neutron is currently in production and qualification. There’s still a number of work ahead — including creating launch infrastructure like a test bed, not to say integrated testing of the rocket itself — but Beck confirmed the corporate is on the right track for a launch in the midst of next yr.

Neutron could have a payload capability of 13,000 kilograms, making it a direct competitor to SpaceX’s Falcon 9, the undisputed leading launch vehicle currently in operation. Beck addressed the query of how Neutron will compete with what he called a “virtual monopoly” in medium-lift launches, saying that demand for launch capabilities is growing, particularly amongst megaconstellation planners.

“Neutron is best positioned to be the rocket that disrupts that monopoly,” he said. “We have a proven track record of building and bringing to market a reliable vehicle that has become a market leader. That track record has allowed us to work extremely closely with customers to design a new rocket that meets their needs, resulting in a customer-centric design that is well on track to bring to market in an extremely short time frame.”

Beck used the chance to indicate a standard misconception concerning the company: that it is just a launch services provider. In reality, launches are only one a part of the business, and “space systems” — which incorporates satellites, software and components — are one other.

In addition to $106 million in second-quarter revenue, $29.4 million of which got here from launch and $77 million from space systems, the corporate expects nearly the identical amount of revenue next quarter. Rocket Lab ended the quarter with $547 million in money available.

This article was originally published on : techcrunch.com
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MIT Develops Recyclable 3D-Printed Glass Blocks for Construction Applications

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MIT develops recyclable 3D-printed glass blocks for construction

The use of 3D printing has been praised as an alternative choice to traditional construction, promising faster construction times, creative design and fewer construction errors, all while reducing the carbon footprint. New research from MIT points to an interesting latest approach to the concept, involving the usage of 3D-printed glass blocks in the form of a figure eight, which may be connected together like Lego bricks.

The team points to glass’s optical properties and “infinite recyclability” as reasons to pursue the fabric. “As long as it’s not contaminated, you can recycle glass almost infinitely,” says assistant professor of mechanical engineering Kaitlyn Becker.

The team relied on 3D printers designed by Straight line — is itself a spin-off of MIT.

This article was originally published on : techcrunch.com
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Introducing the Next Wave of Startup Battlefield Judges at TechCrunch Disrupt 2024

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Announcing our next wave of Startup Battlefield judges at TechCrunch Disrupt 2024

Startup Battlefield 200 is the highlight of every Disrupt, and we will’t wait to search out out which of the 1000’s of startups which have invited us to collaborate can have the probability to pitch to top enterprise capitalists at TechCrunch Disrupt 2024. Join us at Moscone West in San Francisco October 28–30 for an epic showdown where everyone can have the probability to make a major impact.

Get insight into what the judges are in search of in a profitable company as they supply detailed feedback on the evaluation criteria. Don’t miss the opportunity to learn from their expert insights and discover the key characteristics that result in startup success, only at Disrupt 2024.

We’re excited to introduce our next group of investors who will evaluate startups and dive into each pitch in an in-depth and insightful Q&A session. Stay tuned for more big names coming soon!

Alice Brooks, Partner, Khosla Ventures

Alicja is a partner in Khosla’s ventures interests in sustainability, food, agriculture, and manufacturing/supply chain. She has worked with multiple startups in robotics, IoT, retail, consumer goods, and STEM education, and led mechanical, electrical, and application development teams in the US and Asia. She also founded and managed manufacturing operations in factories in China and Taiwan. Prior to KV, Alice was the founder and CEO of Roominate, a STEM education company that helps girls learn engineering concepts through play.

Mark Crane, Partner, General Catalyst

Mark Crane is a partner at General Catalysta enterprise capital firm that works with founders from seed to endurance to assist them construct corporations that may stand the test of time. Focused on acquiring and investing in later-stage investment opportunities equivalent to AuthZed, Bugcrowd, Resilience, and TravelPerk. Prior to joining General Catalyst, Mark was a vice chairman at Cove Hill Partners in Massachusetts. Prior to that, he was a senior associate at JMI Equity and an associate at North Bridge Growth Equity.

Sofia Dolfe, Partner, Index Ventures

Sofia partners with founders who use their unique perspective and private understanding of the problem to construct corporations that drive behavioral change, powerful network effects, and transform entire industries, from grocery and e-commerce to financial services and healthcare. Sofia can also be one of Index projects‘ gaming leads, working with some of the best gaming corporations in Europe, making a recent generation of iconic gaming titles. He spends most of his time in the Nordics, but works with entrepreneurs across the continent.

Christine Esserman, Partner, Accel

Christine Esserman joined Acceleration in 2017 and focuses on software, web, and mobile technology corporations. Since joining Accel, Christine has helped lead Accel’s investments in Blackpoint Cyber, Linear, Merge, ThreeFlow, Bumble, Remote, Dovetail, Ethos, Guru, and Headway. Prior to joining Accel, Christine worked in product and operations roles at multiple startups. A native of the Bay Area, Christine graduated from the Wharton School at the University of Pennsylvania with a level in Finance and Operations.

Haomiao Huang, Founding Partner, Matter Venture Partners

Haomiao from Venture Matter Partners is a robotics researcher turned founder turned investor. He is especially obsessed with corporations that bring digital innovation to physical economy enterprises, with a give attention to sectors equivalent to logistics, manufacturing and transportation, and advanced technologies equivalent to robotics and AI. Haomiao spent 4 years investing in hard tech with Wen Hsieh at Kleiner Perkins. He previously founded smart home security startup Kuna, built autonomous cars at Caltech and, as part of his PhD research at Stanford, pioneered the aerodynamics and control of multi-rotor unmanned aerial vehicles. Kuna was part of the Y Combinator Winter 14 cohort.

Don’t miss it!

The Startup Battlefield winner, who will walk away with a $100,000 money prize, can be announced at Disrupt 2024—the epicenter of startups. Join 10,000 attendees to witness this breakthrough moment and see the next wave of tech innovation.

Register here and secure your spot to witness this epic battle of startups.

This article was originally published on : techcrunch.com
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India Considers Easing Market Share Caps for UPI Payments Operators

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phonepe UPI being used to accept payments at a road-side sunglasses stall.

The regulator that oversees India’s popular UPI rail payments is considering relaxing a proposed market share cap for operators like Google Pay, PhonePe and Paytm because it grapples with enforcing the restrictions, two people accustomed to the matter told TechCrunch.

The National Payments Corporation of India (NPCI), which is regulated by the Indian central bank, is considering increasing the market share that UPI operators can hold to greater than 40%, said two of the people, requesting anonymity because the knowledge is confidential. The regulator had earlier proposed a 30% market share limit to encourage competition within the space.

UPI has change into the most well-liked option to send and receive money in India, with the mechanism processing over 12 billion transactions monthly. Walmart-backed PhonePe has about 48% market share by volume and 50% by value, while Google Pay has 37.3% share by volume.

Once an industry heavyweight, Paytm’s market share has fallen to 7.2% from 11% late last yr amid regulatory challenges.

According to several industry executives, the NPCI’s increase in market share limits is more likely to be a controversial move as many UPI providers were counting on regulatory motion to curb the dominance of PhonePe and Google Pay.

NPCI, which has previously declined to comment on market share, didn’t reply to a request for comment on Thursday.

The regulator originally planned to implement the market share caps in January 2021 but prolonged the deadline to January 1, 2025. The regulator has struggled to seek out a workable option to implement its proposed market share caps.

The stakes are high, especially for PhonePe, India’s Most worthy fintech startup, valued at $12 billion.

Sameer Nigam, co-founder and CEO of PhonePe, said last month that the startup cannot go public “if there is uncertainty on regulatory issues.”

“If you buy a share at Rs 100 and value it assuming we have 48-49% market share, there is uncertainty whether it will come down to 30% and when,” Nigam told a fintech conference last month. “We are reaching out to them (the regulator) whether they can find another way to at least address any concerns they have or tell us what the list of concerns is,” he added.

This article was originally published on : techcrunch.com
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