ABL Space Systems Begins RS1 Stage Testing, Reaches $90 Million in Funding

EL SEGUNDO, Calif., Aug. 3, 2020 (ABL Space Systems PR) — ABL Space Systems has begun stage testing of the RS1 small satellite launch vehicle, and has been awarded two US DoD contracts and secured a large round of funding with a combined value of over $90 million. ABL’s awards and funding are key to the rapid development of the RS1 launch vehicle and GS0 deployable launch system, with a demonstration launch slated for Q1 of 2021.

ABL’s DoD contracts, awarded by the Air Force Research Laboratory and AFWERX, with participation from the Air Force Space and Missile Systems Center, total $44.5 million over three years. Additionally, ABL has secured $49 million of financing led by Ethan Batraski at Venrock with participation from New Science Ventures, Lynett Capital, and Lockheed Martin Ventures. The recent round closed on March 31st, and fully funds ABL through a three launch demonstration campaign in 2021.

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Astranis Raises $90 Million Round Led by Venrock

SAN FRANCISCO, Feb. 13, 2020 (Astranis PR) — Astranis, the company building the next generation of telecommunication satellites, today announced a $90 million financing round to launch its first commercial satellite and build the foundation for the internet infrastructure of the future. The round was led by Venrock, with significant participation from existing investor Andreessen Horowitz.

Astranis aims to solve a problem in the modern space race that hasn’t been cracked: bringing the next four billion people online with low-cost, reliable internet. The $120 billion market is growing quickly – demand for internet is rising 40% per year, every year – but until now, there has been no practical, cost-effective solution for bringing internet access to remote parts of the world. Astranis is singularly focused on solving this problem.

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