SpinLaunch, previously known for hurling things into the stratosphere with a giant centrifuge, has now decided to play the satellite broadband game like everyone else. They just raised $30 million, not from bold new backers, but from familiar names already invested in the dream. ATW Partners stayed loyal. Kongsberg Defence & Aerospace doubled down. Apparently, sticking around is now considered a vote of confidence.

The cash? Not enough to put anything in orbit, but just enough to keep building something that might someday work. They plan to connect their first customer in the back half of 2026. Not next month. Not next year. But someday, probably, if things go well, and if the antenna works like they said it did.

Let’s talk about that antenna. A “proprietary multi-band reflectarray” that was recently tested at full scale. The announcement came gift-wrapped in terms like “reconfigurable,” “compact,” and “ultra-low capex.” Conveniently missing: any independent verification, real-world data, or a deployment timeline that doesn’t require a multi-year attention span.

Meanwhile, Kongsberg smiled for the camera. They’re the manufacturer of the satellites through their company NanoAvionics, which locked in a €122.5 million contract to produce 280 microsats. That’s vertical integration disguised as cheerleading.

Meridian Space, the broadband constellation that now seems to be the main focus, will eventually feature 1,190 satellites. These won’t launch via the famous kinetic contraption just yet. Regular rockets will do the job. That fact was slid in quietly, as if moving on from a launch method built on YouTube demos wasn’t a massive pivot.

There’s more. SpinLaunch is now working with Alaska’s Aleut community to possibly put a launch site on Adak Island. Not for orbital launches, just tests. The slingshot fantasy still breathes, barely.

Also, a leadership update slipped through: David Wrenn is the CEO now. Massimiliano Ladovaz, who provided the usual quote about trust and momentum, seems to be playing another role. A classic case of the spotlight being shared while the decision-making quietly shifts.

So here’s what’s really going on: SpinLaunch is slowly evolving from a punchline about orbital physics to a company trying to survive by entering a crowded market. They’re calling it innovation. It looks a lot more like capitulation or was it catapultation?