Rocket Lab raises $75 million
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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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.
Readers!
Please consider supporting my work here at Behind the Black. Your support allows me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Only now does it appear that Washington might finally recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
$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.
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.
LocalFluff,
I wouldn’t worry about the “Cessna” market. Even Cessna is doing well.