Big Tech

ABL Space Systems, a startup building low-cost launch vehicles for small satellites, announced that it raised over $90 million and plans to launch its first orbital mission by the first quarter of next year.

The El Segundo-based company secured $44.5 million in Air Force contracts and another $49 million in private funds led by Ethan Batraski at Venrock with participation from New Science Ventures, Lynett Capital, and Lockheed Martin Ventures.

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Virgin Galactic has taken the wraps off a concept for an airplane capable of flying three times the speed of sound, to be developed with support from Boeing and Rolls-Royce.

The project would be distinct from Virgin Galactic's SpaceShipTwo suborbital space plane program, which is closing in on the start of commercial operations at Spaceport America in New Mexico.

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A $5 million rapid COVID-19 testing competition launched Tuesday by the Culver-City based XPRIZE Competition seeks to make tests cheaper and faster.

Long wait times for test results have hampered efforts across the country to contain coronavirus. As labs have fallen behind in some parts of the country, wait times have stretched into days and even weeks — and that's meant potentially infectious patients who haven't yet gotten their results aren't self-isolating.

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