There are an estimated 9,000 operational satellites in space today. By 2030, that number is expected to grow to 30,000. Phil Ridley sees opportunity in that growth.
The current method of satellite communication typically involves individual satellites transmitting information to an antenna tethered to a dish on Earth. Over the past three years, Quasar Satellite Technologies, a startup that Ridley co-founded with Dr. Ilana Fain, has been developing a ground station that it claims can communicate with dozens of satellites simultaneously.
It's been likened to a space version of Wi-Fi, mimicking a wireless router's ability to connect to multiple devices simultaneously.
As Ridley told Capital Brief, the company's ultimate future lies in the commercial sector: As space becomes increasingly crowded, he believes its technology can help communications, weather, and mining companies cut through the noise and better monitor their operations. But on the path to that future, Quasar has pivoted to a more familiar opportunity: serving the U.S. government.
The shift is already paying off, but it's also been incredibly difficult: Quasar has been accepted into the US government's second accelerator program and is on the verge of signing a defense contract, but Ridley said the company is also working on a Series A in a “challenging” venture capital environment.
