Defense Tech Signals · Capital vs. Contracts Open-source analysis · public data only Data as of Nov 8, 2026 · obligations refresh every other Monday
NatSec100 #85

ThinkOrbital

Recipient: THINKORBITAL INC. · UEI JVNVLEJFNUH3

Obligated more than it has raised: about $1.07 in federal money for every $1 of private capital. 100% of it came through prime contracts.

Capital raised
$8.0M
Federal obligations, FY2020–FY2026
$8.6M
Raised per $1 obligated
0.93×
Latest valuation
—
Not disclosed

Obligations by fiscal year

$M
0 FY20 0 FY21 0.3 FY22 0 FY23 0.1 FY24 5.2 FY25 3.1 FY26

Prime contracts Other Transactions Subawards

Contract mix

Prime contracts
$8.6M
Other Transactions
$0
Subawards
$0

Cite this: Defense Tech Signals, "Capital vs. Contracts: ThinkOrbital," data as of 2026-11-08, https://data.defensetechsignals.com/c/thinkorbital/.

Coverage: prime contracts, IDVs and grants (USAspending), direct Other Transactions (FPDS) and subawards received, FY2020–FY2026. Not included: consortium OTs, FY 2027 so far, loans and classified work. Capital raised: SVDG 2026 report total, plus later announced rounds. Obligations last refreshed 11/5/2026.