TAMPA, Fla. — France’s space agency joined European investors to inject nearly $18 million in French startup Skynopy, backing efforts to rapidly grow its ground station network amid a broader national push to boost financial support for the industry.

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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,...