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The contract award coincides with Telesat's preparation for its first Lightspeed Pathfinder launches in late 2026.
The Lightspeed network is designed to deliver up to 10 Tb/s of total capacity once fully deployed.
The Series C funding round was led by Redpoint Ventures, with participation from Alpine Space Ventures, Altimeter Capital, Lightspeed, and accounts advised by T. Rowe Price Associates.
Telesat invested in Farcast to fund terminals developed for the Lightspeed network.
Lynk Global and Canada’s Lightspeed are also set to provide competition in satellite connectivity by 2027.
Telesat Lightspeed is scheduled to launch next year for government and military customers in the Arctic.
Viasat signed a multi-year capacity agreement for Telesat Lightspeed LEO services earlier this year.
Remote areas in Canada, such as Arctic communities, will benefit from faster satellite services like Telesat Lightspeed.
Telesat Lightspeed LEO is scheduled to enter commercial service in late 2027.
Demand for Lightspeed in defense applications is increasing, aided by Canada’s renewed commitment to NATO spending.
In September 2025, Telesat completed the distribution of 62% of its Lightspeed equity to an indirect subsidiary of Telesat Corporation.
Telesat has worked with Farcast since 2022 to build and test hardware for operation on the Lightspeed network.
Terminals fully integrated with the Telesat Lightspeed modem are planned to be available for 2027.
Telesat's first Lightspeed satellites are scheduled for launch in late 2026, with the initial Pathfinder spacecraft expected around December.
Telesat is making a $5 million investment into flat panel antenna developer Farcast for its Lightspeed network.
Telesat anticipates LEO operating expenses of $75 million to $85 million and capital expenditures of $900 million to $1.1 billion for Lightspeed in 2025.
The full fleet of 156 Lightspeed satellites is planned to be launched by late 2027.
Telesat's operating expenses rose by 26% to $58 million due to higher Lightspeed headcount and professional fees related to capital restructuring.
Telesat plans to begin global service once 96 of 156 Lightspeed satellites are in orbit for a few months.
Telesat Government Solutions announced that AvL Technologies completed a successful demonstration of their 1.35-meter XY antenna terminal with Telesat’s Lightspeed LEO demonstration satellite.