The Briefing: Virgin Orbit Going Public Via SPAC, OPay Lands $400M, And More

Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

Subscribe to the Crunchbase Daily

Virgin Orbit going public in SPAC deal

Virgin Orbit, a space technology company focused on small satellite launches, announced plans to go public on Nasdaq through a merger with a blank-check acquirer.

The Long Beach, California-based company will merge with SPAC NextGen Acquisition Corp. II, at what it says will be an “implied pro forma enterprise value of approximately US$3.2 billion.”

Africa’s OPay lands $400 million

Lagos-based mobile payment platform OPay reportedly raised $400 million in a funding round led by SoftBank Vision Fund 2 in its first major African investment.

Funding rounds

India’s Zetwerk raises $150M: Bangalore-based Zetwerk, a business-to-business marketplace for manufacturing items, raised $150 million in a fresh funding round led by D1 Capital Partners at a $1.33 billion valuation.

— Joanna Glasner

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Copy link