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Virgin Galactic Received Investment from Boeing

Virgin Galactic has $20 million extra to pursue its objective of space tourism with a new investment from Boeing company, announced in the morning. The two companies are both involved in human spaceflight very thoroughly. However, in different methods, and Boeing appears to feel that it is better to join Virgin rather than try to beat them at this game.

VG is on its way to its objective of being the first company to contribute to space tourism “routine, consistent, and affordable,” though certainly, the last item is relevant. Its spacecraft have already into space with people inside, basically taking the same journey as what’s planned for paying passengers who, by the way, will embark from the recently unveiled Spaceport America in New Mexico.

The money came through Boeing’s HorizonX Ventures, which has previously invested in some slightly smaller scale aerospace startups, like Accion Systems and Matternet. The crew there appears to favor to present little money injections right here and there somewhat than again a serious participant with an extensive sequence A or the like.

Possibly ahead of that event, also with Sir Richard Branson, Virgin founder having walked away from a billion dollars offered by the Saudia Arabia, the company determined it could use a bit more relatively unstructured money.

No particular partnerships or technologies are mentioned, simply that it’s a “necessary collaboration,” in Branson’s words. CEO George Whitesides stated he’s “excited to partner with Boeing to build something that can change the way people move around the planet.”

Boeing had probably been hitting on the door for a while; they usually required to get this investment on the books ahead of the merger, with specific collaborations including projects still on the drawing board, and due to this fact with budgets only vaguely formed. “$20 million is probably effective,” I can think about someone telling in a boardroom.

There’s no timeline on Virgin Galactic’s for its first commercial flight; however, it’s conceivable it could be earlier at the end of this year a launch can be a beautiful feather to have in their cap; yet, either way, there is no shortage of customers; Reportedly some $80 million of commitments have already been made towards trips to space.

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