Synthetic aperture radar (SAR) startup Capella Space made a major announcement on Tuesday morning, revealing that founder and CEO Payam Banazadeh will be stepping down from his role. He will be replaced by aerospace executive Frank Backes, who will officially assume the position on October 23. However, Banazadeh will continue to serve on Capella’s board, ensuring a smooth transition and ongoing support for the company.
Key Takeaway
Synthetic aperture radar startup Capella Space has appointed aerospace executive Frank Backes as the new CEO, replacing founder Payam Banazadeh. The decision suggests that Capella aims to enhance its collaboration with government and defense entities. Banazadeh will continue to contribute to the company as a member of its board. Capella Space, under Banazadeh’s leadership, has achieved significant milestones in commercial SAR technology and has raised over $250 million in funding since its founding.
New CEO with Vast Experience in Government and Defense Markets
The appointment of Frank Backes as the new CEO signals Capella’s intention to expand its engagement with government and defense sectors, which are among the biggest consumers of SAR imagery. Backes brings a wealth of experience to the role, having previously served as the Senior Vice President at Kratos Defense and Security Solutions’ federal arm and as the CEO of Braxton Science and Technology Group.
Capella Space highlighted Backes’ strong track record in working with federal partners, stating that he possesses a deep understanding of government and defense markets and has demonstrated expertise in growing public sector, commercial, and international business.
Capella Space’s Impressive Journey Under Banazadeh’s Leadership
Payam Banazadeh founded Capella Space in 2016 at the young age of 24. Since its inception, the company has achieved remarkable milestones and secured over $250 million in funding. Capella Space is renowned for its groundbreaking work in commercial SAR, including the successful launch of the first American SAR satellite. In 2020, the company achieved yet another milestone by capturing the highest-resolution SAR image from space at that time.
This leadership transition signifies an exciting new chapter for Capella Space as it embarks on a path of growth and further advancements in SAR technology. With Backes’ extensive experience and understanding of the government and defense markets, the company is well-positioned to expand its market presence and continue its mission of pushing the boundaries of SAR innovation.
