Today, we announced that Rocket Lab has closed a $75m Series D financing round, led by Data Collective, with additional investors Promus Ventures and an undisclosed investor. We’ve partnered with this esteemed group of investors because of their experience in the space industry. We also had renewed participation in this round from our existing investors – Khosla Ventures, Bessemer Venture Partners and K1W1 – who have provided continued expertise and support as we work to make space accessible to everyone. The closure of the round brings the total funding Rocket Lab has received to date to $148 million, with the company value now in excess of $1 billion (USD).
Rocket Lab delivered its first Electron vehicle to Rocket Lab Launch Complex 1 late last night marking the beginning of pre-flight checkouts.
The rocket was trucked to the Mahia Peninsula from Rocket Lab’s Auckland facility.
“It’s an important milestone for our team and for the space industry. In the past, it’s been countries that go to space, not companies,” said Peter Beck, Rocket Lab’s CEO. “Through the innovative use of new technologies our team has created a launch vehicle designed for manufacture at scale. Our ultimate goal is to change our ability to access space.”
“Since we commenced this project three years ago, our team has accomplished an incredible amount – the vehicle has gone through rigorous qualification and acceptance testing, Rocket Lab Launch Complex 1 has been completed and major tracking infrastructure has been installed in remote locations.”
Over the coming weeks, a series of tests and checkouts will be conducted at the site before the rocket, named It’s a Test, is signed-off to fly.
“We put it out to our team to name the vehicle,” said Beck. “We wanted to acknowledge the intensive research and development Electron has undergone and that continues with these test flights.”
The launch, which will be the first orbital launch attempt from New Zealand, is the first of three planned tests before Rocket Lab begins providing customers commercial satellite launches.
Moon Express has announced that it has raised $20 million in a Series B funding round from Founders Fund, Autodesk and Collaborative Fund.
The company says it is fully funded to land a spacecraft on the moon later this year. The flight will be an attempt to win the $20 million first prize in the Google Lunar X Prize for the first privately built vehicle to land on the moon and travel 500 meters across the surface. There is a $5 million prize for the second team to achieve the goal.
Moon Express’ spacecraft will launch on a Rocket Lab Electron rocket. Rocket Lab expects to launch the Electron on its first flight test in February.
It’s going to be busy year in space in 2017. Here’s a look at what we can expect over the next 12 months.
A New Direction for NASA?
NASA’s focus under the Obama Administration has been to try to commercialize Earth orbit while creating a foundation that would allow the space agency to send astronauts to Mars in the 2030’s.
Whether Mars will remain a priority under the incoming Trump Administration remains to be seen. There is a possibility Trump will refocus the space agency on lunar missions instead.
Rep. Jim Bridenstine (R-OK), who is currently viewed as a leading candidate for NASA administrator, has written two blog posts focused on the importance of exploring the moon and developing its resources. Of course, whether Bridenstine will get NASA’s top job is unclear at this time.
Video Caption: Rocket Lab has completed qualification and acceptance testing of Electron’s first stage booster. Completion of the tests marks the final major technical milestone ahead of first test launch of the Electron vehicle.
LOS ANGELES, December 13, 2016 (Rocket Lab PR) — Rocket Lab today announced the flight qualification and acceptance of the first stage booster of the Electron launch vehicle.
All primary components of the stage – including engines, vehicle structures, avionics and software systems – were designed, developed and tested in-house at Rocket Lab.
“Rocket Lab has had a hugely successful year with qualification of all major vehicle systems, completion of Launch Complex 1 and considerable growth of our team and customer base,” said Peter Beck, Rocket Lab CEO.
“We will continue to test the vehicle extensively in the lead-up to commercial operations and are looking forward to beginning the test flight program. Our focus with the Electron has been to develop a reliable launch vehicle that can be manufactured in high volumes – our ultimate goal is to make space accessible by providing an unprecedented frequency of launch opportunities.”
Rocket Lab plans to begin full vehicle testing in early 2017 once international launch licensing is complete. The tests will occur from Rocket Lab Launch Complex 1, located on the Mahia Peninsula of New Zealand.
WASHINGTON, DC, November 1st, 2016 (Moon Express PR) – Moon Express has announced a new program that will provide $1.5M in private funding for NASA-selected payloads to fly to the Moon.
The announcement was made today at the annual meeting of NASA’s Lunar Exploration Analysis Group (LEAG), in response to NASA’s call for lunar instrument concepts that would be flown to the Moon utilizing commercial mission services.
An alert reader who goes by the pseudonym “redyns” has pointed out something very interesting about Firefly Space Systems, the company that on Thursday is reported to have laid off its entire staff due to financial difficulties.
In April, Firefly and NASA modified a contract under the Venture Class Launch Services (VCLS) program from land launch to air launch, according to the USASpending.gov website. The company’s Firefly α small satellite booster was originally designed to launch vertically from the ground.
The website shows that Firefly was awarded a VCLS contract worth $4.4 million on Sept. 30, 2015. A second contract modification has been made to “deobligate” $2.5 million in funding from the contract. That modification was made on Sept. 27, two days before the layoffs.
NASA officials have been providing updates this week on agency programs and missions during the 2016 Small Satellite Conference and the CubeSat Workshop that preceded it. I have pulled together summaries of their presentations drawn from Twitter. Information has come from the following Tweeters:
The Small Satellite 2016 Conference got underway today in Logan, Utah. Although I was not able to make it, I’ve been able to follow the conference via Twitter. A number of small satellite launch companies provided updates on launch vehicles they are developing. There is information below on Firefly Space Systems, Nammo, Rocket Crafters, Rocket Lab, Super Strypi, Vector Space Systems and Virgin Galactic.
Information came from the following Tweeters who are attending the conference:
NASA’s new publication, “Economic Development of Low Earth Orbit,” consists of a series of papers that examines a number of important policy questions that will be of rising importance as NASA transitions human spaceflight in LEO to the private sector.
One of the papers, “Venture Capital Activity in the Low-Earth Orbit Sector,” has detailed information on what U.S. venture capitalists have invested in. Key excerpts from the paper follow. (more…)
Paris, Washington D.C., Montreal, Yokohama, July 7, 2016 (Euroconsult PR) — According to Euroconsult’s latest report, Prospects for the Small Satellite Market, we are on the cusp of a major revolution for the space sector and overall space ecosystem, as more than 3,600 smallsats are expected to be launched over the next ten years, a significant increase from the previous decade.
AUKLAND, NZ (NZ Government PR) — The Government is putting in place a new regulatory regime to enable safe, secure and responsible space launches from New Zealand, Economic Development Minister Steven Joyce says.
“New Zealand is rapidly building a more diversified hi-tech economy, and one of the companies at the very leading edge of technology is our own home-grown start-up, Rocket Lab,” Mr Joyce says.
“The company and its parent company, Rocket Lab USA, are almost ready to start launching rockets commercially, and we need to introduce a regulatory framework so they and others that come after them can operate from New Zealand.”