SpaceRyde

SpaceRyde, formerly called Loonify Space, is a company developing a launch system to carry small satellites into orbit. thatIt is headquartered in Richmond Hill, Ontario, and was founded in 2018 by Saharnaz Safari and Sohrab Haghighat.

The company's launch systemssystem consists of a balloon that carries a rocket up to approximately 35 km, and then the rocket is launched in mid-air for orbital or suborbital flights. The SpaceRyde launch system is designed specifically for launching small satellites into orbit. SpaceRyder claims theyit areis offering the lowest cost per KG of payload of any launch provider (as of February 2020).

On June 9, 2019, SpaceRyde performed theirits first test flight in North Bay, Ontario, and was conducted toat a low altitude. The company released a statement about their test flight by telling reporters they carried out:

On March 18, 2019, SpaceRyde announced raising an undisclosed amount of seed funding from Y Combinator (lead investor), Pi Campus, Pegasus Tech Ventures, and One Way Ventures. The seed funding was announced right after Y Combinator's W19 Demo Day.