Albedo

Albedo has announced a $48M Series A raise, in a round co-led by Bill Gates-founded Breakthrough Energy Ventures and Silicon Valley-based Shield Capital.

The Austin- and Denver-based company has now raised $58 million less than two years since its founding.

The $10 million will also allow the company to fund a down payment on rocket space and payments to suppliers that should allow Albedo to wrap up its satellite design.