Monday, August 3, 2020
Technology News
Trusted, Accurate, and Validated
Home / Business  / Rocket Lab Announces $140 Million in New Funding

Rocket Lab Announces $140 Million in New Funding

Rocket Lab Announces $140 Million in New Funding

US orbital launch provider Rocket Lab closed a Series E financing round of $140 million led by investor Future Fund, with participation from Greenspring Associates, Khosla Ventures, Bessemer Venture Partners, DCVC (Data Collective), Promus Ventures, and K1W1. New investor ACC also contributed to the round.

The Series E round closed prior to the launch of the successful mission, “It’s Business Time,” and brings total Rocket Lab funding to date to more than $288 million, with the company now soaring past its previous $1 billion valuation. The round also follows the opening of Rocket Lab’s new mass production facility for the Electron vehicle, as well as the announcement confirming the location of Rocket Lab’s second orbital launch site.

Construction has begun on Rocket Lab Launch Complex 2, based within the Mid-Atlantic Regional Spaceport at NASA Wallops Flight Facility in Virginia. Launch Complex 2 is designed to support monthly orbital launches of government customers from U.S. soil. Between the two Rocket Lab launch complexes, the company expects to support up to 130 orbital missions per year.