Los Angeles-based Pipe Technologies, Inc. announced Wednesday it has raised $60 million in equity and asset financing as an extension to the $6 million seed round it closed in February.

Launched last September, Pipe enables software as a service (SaaS) companies with recurring revenues to tap into their deferred cash flows by getting a cash advance against the full annual value of software subscriptions. Trading limits on the platform range from $10,000 to several million dollars per month, depending on the size of companies.

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Relativity Space co-founder Tim Ellis said Thursday that he expects that 20,000 satellites will launch in the next five years, representing a $25 billion market for the 3D rocket printer to compete in.

The company, which recently announced it is moving into a new headquarters complex in Long Beach, is currently building its first rocket, which is expected to launch next year. His goal is to make the company a strong competitor in the $350 billion space economy against bigger rivals like Space X and Jeff Bezos' Blue Origin.

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