CEDAR PARK, Texas, May 4, 2021 (Firefly Aerospace PR) – Firefly Aerospace Inc., a leading provider of economical and dependable launch vehicles, spacecraft, and in-space services, today announced the successful completion of its Series A financing. The $75 million Series A, which valued the company at greater than $1 billion, was led by DADA Holdings, with participation by Astera Institute, Canon Ball LLC, Reuben Brothers Limited, SMS Capital Investment LLC, Raven One Ventures, The XBTO Ventures and other investors. The Series A capital raise team was led by Darren Ma, Firefly CFO. Investor outreach was led by Eric Salwan, Firefly Co-founder and Director of Commercial Business Development. Jed McCaleb, representing Astera Institute, will join Firefly’s Board of Directors.

Interest in the Series A round far exceeded the $75 million equity being offered. In an effort to satisfy the overwhelming demand in the Series A round, Firefly’s seed investor, Noosphere Ventures, sold approximately $100 million of its holdings of Firefly equity to certain Series A participants and other investors through secondary transactions. Following the forthcoming launch of its flagship Alpha small launch vehicle, Firefly intends to raise an additional $300 million later in 2021 to fund its ambitious growth plans through 2025.

HOUSTON (SpaceFund PR) — SpaceFund announced it has reached and surpassed the planned first close of $5 million for its $20 million BlastOff Fund today. The Houston and Austin-based company says commitments to the fund have reached $9 million as of Monday morning.

“We are thrilled to see how many investors are placing their trust in our team,” said SpaceFund founder Rick Tumlinson. “We spent a lot of time slowly and carefully developing our processes and credibility, so we can better serve both investors and the amazing space startup community, and it’s paying off.”