A satellite data start-up which shrinks file sizes in order to transmit larger quantities of information has won backing from an early investor in SpaceX, Elon Musk’s rocket-making behemoth. Sky News understands that The Compression Company will on Friday announce a $3.4m (£m) fundraising led by Long Journey, which has backed some of the world’s biggest technology businesses, including SpaceX, Uber and Anduril. The Compression Company uses AI-driven compression which runs onboard satellites in order to reduce file sizes by more than 95%, which it says unlocks one of the principal bottlenecks in the delivery of useful data back to Earth.Read More
