The Virgin Group company, belonging to British billionaire Richard Branson, announced on Sunday that it plans to raise 700 million pounds sterling to support the aerospace program Virgin Orbit, which develops satellite technology.
According to the company's representative, this sum of money will be used to expand new satellites in orbit around Earth. Virgin Orbit is one of the few businesses of the Virgin Group, which also includes Virgin Atlantic airlines and the space company Virgin Galactic.
"We are very pleased to announce our plan to raise 700 million pounds sterling to support our aerospace program. This funding will allow us to strengthen our position in the satellite technology market and continue our path of innovation in this area," said the representative of Virgin Group.
