TAMPA, Fla. — Starcloud is looking to raise at least $200 million in a deal that would double the two-year-old orbital data center startup’s valuation to about $2.2 billion, a source close to the situation confirmed.

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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,...