TAMPA, Fla. — Aalyria announced a $100 million funding round Feb. 23 that values the Californian venture at $1.3 billion, supporting deployment of laser terminals and software for dynamically routing data across space, air and ground networks.

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Jason Rainbow writes about satellite telecom, finance and commercial markets for SpaceNews. He has spent more than a decade covering the global space industry as a business journalist. Previously, he was Group Editor-in-Chief for Finance Information Group,...