Dauria Aerospace Gets $70 Million Infusion

Some good news for the Russian satellite company Dauria Aerospace:

Cybernaut will be pumping US$70 million into the creation of a group of 10 satellites for daily imaging of the 100 biggest cities in the world with an accuracy of 0.7 metres per pixel.

The Chinese investment fund will be collaborating with Russian private space company Dauria Aerospace.

The pair signed a term sheet yesterday at the second Chinese-Russian Expo in Harbin, China, on the formation of a joint venture for the project, named UrbanObserver, according to a statement by Skolkovo Foundation….

The agreement will see the creation of a new 1,500-square-metre R&D business incubator, robotics centre and US$200-million venture fund. It also aims to ease new Russian companies — mainly those in Skolkovo that specialise in IT, robotics, and space and telecommunication technologies — into the Chinese market.