LyteLoop Bags $40M Financing for Space-Based Data Storage Center

New York-based tech firm LyteLoop thinks through a new way to store data that would minimize the maintenance costs, using a photonics-based data center in space.

The brilliant and cutting-edge idea has made the startup a hotshot for investors, recently securing a $40 million funding round. This will rely heavily on the satellite constellation that would serve as the hyperscale data center.

The technology is capable of storing and securing data, with high standard capabilities of transmitting data between satellites. Traditional data centers require consistent processing, storing, transporting, while LyteLoop’s storage is considered the link to the data.

LyteLoop Space-Based Data Storage Center

Behind the concept is an ultra-high bandwidth that serves as a constant state of perpetual motion. Therefore, the firm is replacing the storage with the photonics link, as said by CEO Ohad Harlev.

In addition to the fast data transmission, LyteLoop also guarantees global coverage that would provide access to data anywhere in the globe. There’s also a feature that consists of extra security layers as photonics technology isn’t accessible on the ground.

For enterprises who want to avoid data leaks and threats, the new data storage in space can guard data privacy using constant motion at the speed of light. According to LyteLoop’s prototype, the technology can receive and transfer massive files at a distance of 300 billion kilometers.

“We are a storage company. We are storing data in a different medium on photons, and in our case, in space. The essence is that we have communications links and photons going back and forth. That back and forth is the storage medium,” said Harlev.

When it comes to the environmental initiative, the new data storage is definitely future-proof, using no massive space on the land. The three satellites will go live in data storage service within the next five years, with the company testing everything.

The new funding will allow LyteLoop to add more people to its team, hire engineers and scientists to perfect the ‘space storage.’

LyteLoop isn’t the first entity to create space-based storage for more sustainable and secure solutions. In fact, a Los Angeles-based firm called Constellation has announced its plans for the use of satellites for cloud storage—literally above the clouds.

The company said they are trying to enter the space data storage market and to become a unique and reliable operator itself. It will be working with other low-earth orbit access providers to protect the downlinks.