SpinLaunch Series B Funding Round Closes at $71 Million
SpinLaunch has closed a $71 million Series B funding round. The funds will be used to continue the development and commercialization of the world’s first kinetic launch system and satellite product line, designed to provide low-cost, high-cadence, environmentally responsible space access.
“SpinLaunch’s mission is to bring the world low-cost, sustainable access to space. We’ve taken a big step in that direction with the completion of our 33-meter Suborbital Mass Accelerator.”
SpinLaunch CEO Jonathan Yaney.
SpinLaunch Series B Funding Round led by ATW Partners
The Series B funding round was led by ATW Partners, and includes Kleiner Perkins, GV, ATMA Capital, ONA Capital, Lauder Partners, McKinley Capital, Tyche Partners, as well as John Doerr, Brook Byers, Asher Delug, Chuck Brady, Andrew Farkas, and Greg McAdoo. The Series B financing, which includes equity and debt, brings SpinLaunch’s total funding to $150 million.
“In the last two years, even during difficult COVID times, SpinLaunch has shown remarkable and continued success,” said Wen Hsieh, General Partner of Kleiner Perkins. “We share in the company’s goal to realize the full-potential of the space economy by developing a revolutionary space launch system that is both very low-cost and environmentally-sustainable.
“SpinLaunch’s mission is to bring the world low-cost, sustainable access to space. We’ve taken a big step in that direction with the completion of our 33-meter Suborbital Mass Accelerator,” explained CEO Jonathan Yaney. “We have completed nine successful flight tests to date, retiring the technical risk as we prepare the way for the construction of our full-size Orbital Launch system. In addition, the team continues to build out a low cost, mass manufactured, satellite product line that will ensure our customers have a uniquely differentiated platform for building space capabilities.
SpinLaunch became a tenant at Spaceport America in 2019 and is developing an innovative launch system that uses kinetic energy with a vacuum-sealed centrifuge to spin a projectile at several times the speed of sound before releasing. The rocket launch company has constructed the world’s tallest suborbital accelerator at Spaceport America, which stands at over 150 feet tall- about the height of the Statue of Liberty.
(Source: SpinLaunch news release. Images from Company-provided video and file)