- Parabolic Arc
- September 20, 2023
Moon Express Closes $2.5 Million Bridge Financing, Secures $10 Million Lead Investor for Series B Round
CHICAGO, October 1, 2018 (Moon Express PR) – Moon Express has announced the successful closing of a $2.5M bridge round and the opening of a $20M Series B round anchored by a $10M lead investor. Proceeds of the financing will support the build out of the company’s Cape Canaveral facilities as well as spacecraft development for its commercial lunar flight program.
Moon Express Founder and CEO Bob Richards made the announcement during a closing keynote at The World Innovation Network (TWIN) Global Summit in Chicago. “We are at the dawn of an exciting new era of lunar exploration and development,” he stated to the international TWIN Global audience. “We’re excited about the new U.S. space policy to return to the Moon in a sustainable way with commercial partners and we look forward to working with NASA and other space agencies in exploring Earth’s eighth continent.”
Miami-based Minerva Capital Group led the $2.5M bridge financing and is supporting the $20M Series B round. “Moon Express has a unique and well thought out economic model that we think is compelling,” said Jocelyn Cortez-Young, Minerva Managing Partner and Founder. “We support visionary entrepreneurs and companies pursuing transformative innovation toward a social good. Moon Express has great potential for social impact and economic return and we’re proud to be an investor.”
Moon Express is partnered with NASA under the Lunar CATALYST Program, developing new lander technologies supporting a U.S. return to the lunar surface. In 2016, Moon Express became the first commercial space company to receive U.S. federal government authorization for a private mission to the Moon. In 2017, Moon Express introduced a family of innovative robotic exploration spacecraft designed to collapse the cost of access to the Moon and other deep space destinations. Regular flights to the Moon are planned to begin in 2020.
For more information: moonexpress.com
ABOUT MOON EXPRESS
Moon Express, Inc. (@MoonEx) is a privately funded commercial space company developing a family of low-cost robotic spacecraft dedicated to collapsing the cost of lunar and deep space access for science, exploration and commerce. The long-term goal of Moon Express is to discover and unlock the resources of the Moon for the benefit of Earth and the evolution of humanity into a multi-world civilization.
Moon Express is partnered with NASA supporting the U.S. return to the Moon and serves a global base of customers from its 72-acre Space Campus at Cape Canaveral, located at former Launch Complexes 17 and 18.