Rocket Lab raises $75 million


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The competition heats up: Rocket Lab announced today that it has raised an additional $75 million in investment capital.

The new funding round is led by venture capital firm Data Collective, with contributions from another VC firm, Promus Ventures, and an undisclosed investor. Several prior investors, including Bessemer Venture Partners, Khosla Ventures and K1W1, also participated in the round.

Rocket Lab said the Series D round brings the total raised by the company to $148 million, and values the company at more than $1 billion. Rocket Lab announced a Series B round of unspecified size in 2015, and Peter Beck, the company’s chief executive, said the company did an unannounced Series C round in the interim involving only existing investors.

In an interview, Beck said the money will go towards increasing the production capacity for its Electron rocket, set to make its debut later this year. “This is really all about scaling,” he said. “The funding is all about producing the vehicle in much more significant numbers.”

They say they will make their first launch in the coming months, but remain vague about specific dates.

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3 comments

  • LocalFluff

    $75M is enough to launch no less than two Electron on a Falcon 9. Budget, mass, size (if Electron’s two stages are separated) all fit inside its fairing. Including their 150 kg payloads.

    I wish them all luck, and they obviously has some. We’ll see if sat miniaturization will help this dedicated smallsat launch business. I’m afraid that, when the huge reusable launchers get online next decade, it will see a market as large as that for intercontinental flights in a Cessna.

  • Dick Eagleson

    The big launchers will get the job of gang deployments for new smallsat constellations. The small onesy-twosy launchers will find plenty of work in replacing infant mortality and longer-term in-service losses within these constellations.

  • Edward

    LocalFluff,
    I wouldn’t worry about the “Cessna” market. Even Cessna is doing well.

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