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SpaceX acquires parachute company for $2.2M, because it turns out space-rated parachutes are very hard

SpaceX acquires parachute company for $2.2M, because it turns out space-rated parachutes are very hard

SpaceX is known for its vertical integration, but one component it’s been outsourcing is parachutes — until earlier this month, when the company quietly acquired parachute vendor Pioneer Aerospace after its parent company went bankrupt. The Information first reported the news. This is the second known acquisition for SpaceX, which acquired small satellite startup Swarm…

Backed by East Ventures, Fr8Labs aims to digitize Asia’s logistics industry

Backed by East Ventures, Fr8Labs aims to digitize Asia’s logistics industry

In Western markets, freight forwarders are well into digitizing their operations, but the same doesn’t hold true in Southeast Asia, say the founders of Fr8Labs. The reasons for that include the lack of localized software and a more fragmented logistics industry where SMBs dominate. Fr8Labs wants to digitize Asia’s logistics industry with its SaaS operating…

LockBit claims cyberattack on India’s national aerospace lab

LockBit claims cyberattack on India’s national aerospace lab

The notorious ransomware gang LockBit has claimed responsibility for a cyberattack targeting India’s state-owned aerospace research lab. On Wednesday, LockBit added the National Aerospace Laboratories (NAL) to its dark web leak site, which ransomware gangs use to extort victims for ransom payments. The group threatened to publish the organization’s stolen data if it fails to…