Capella Space to replace founder and CEO Payam Banazadeh

Synthetic aperture radar startup Capella Space is replacing founder Payam Banazadeh with a new CEO who will start at the end of the month, the company said Tuesday morning.

He will be replaced by aerospace executive Frank Backes, who will assume the role on October 23. Banazadeh will continue to serve on Capella’s board. Backes previously held roles as senior VP at Kratos Defense and Security Solutions’ federal arm and CEO of Braxton Science and Technology Group.

Banazadeh founded the imaging startup in 2016. Since then, the company has gone on to raise more than $250 million.

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