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Sara Fischer: Defense news startup Payload raises cash, rebrands
Payload, a digital media startup focused on the business and policy of space, has raised an additional $1.4 million as part of a bigger effort to rebrand the company and broaden its coverage across the defense industry.
Why it matters: The company, which is rebranding as Arkaea Media, will still house Payload as its core space news brand, but it also plans to launch new verticals around adjacent areas in defense, co-founders Mo Islam and Ari Lewis told Axios in an interview,
- The defense industry’s transformation, driven by software investments and newer companies like Anduril and Palantir, has become a bigger news story over the past few years, especially as it relates to topics such as national security and trade.
Zoom in: The firm has raised $1.4 million to continue its expansion, after raising a modest $650,000 seed round backed mostly by Winklevoss Capital, the venture firm run by Cameron and Tyler Winklevoss.
- The new funds will be used to expand Arkaea Media to verticals across the defense industrial space, including nuclear energy and technology.
- Investors include tech venture firm Arden Road Investments, early-stage fund Industrious Ventures, and Sam McIngvale, an early Coinbase employee and original Payload investor.
- Arkaea Media will still invest in space coverage, Islam and Lewis said, but it sees a bigger opportunity in bringing its strategy to monetize Payload to other verticals, rather than doubling down deeper on just one topic.
How it works: Like most modern digital news startups, Payload launched as a newsletter before expanding into events.
- Islam and Lewis have launched nuclear energy and defense tech newsletters, and they soon plan to expand those verticals with events.
- This March, it will launch the Tectonic Defense Summit in Austin, Texas. In May, it plans to host a nuclear energy summit in New York City.
- Most of the company’s money comes from advertising and sponsorships around its digital products and events. The company plans to introduce a paid membership product that will include research and community events this year as well, starting with the Payload brand.
By the numbers: For now, the company remains focused on scaling its audience and products. It earned $1.8 million in revenue last year, up from $1 million in 2023, Islam and Lewis said.
- While the Payload business was profitable in 2024, investments in new verticals prevented the broader company from being profitable as a whole, they noted.
The big picture: The name of the new holding company, Arkaea Media, is a derivative of the biological term archaea, which refers to microorganisms known for thriving in extreme environments.
- The name serves as a symbol of the competitiveness of today’s media climate, especially for startups covering complex industries.
This article is written by WWSG exclusive thought leader, Sara Fischer.
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