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Rocket Builder ABL Space Raises $ 200 Million With a Valuation of $ 2.4 Billion

RS1 rocket boosters will be shipped from headquarters in El Segundo, California.

ABL space

Rocket Builder’s ABL Space announced on Monday the end of $ 200 million in funding from existing investors, boosting the valuation of private companies to up to $ 2.4 billion.

ABL’s latest funding Round that occurred in March, The company said. The fund is T. Provided by existing investors such as RowePrice, Fidelity Management, Venrock, New Science Ventures, Lynett Capital and Lockheed Martin Ventures. The company has raised $ 420 million so far.

ABL said it plans to use the new funding to expand production of the RS1 rocket and “research and develop future systems.”

The company is aiming to launch the first RS1 rocket from Alaska by the end of this year, ABL President Dan Piemont told CNBC in September.

ABL is developing a line of RS1 rockets that are 88 feet high and are designed to launch a payload of 1,350 kilograms in low earth orbit. The price of each launch is $ 12 million.

The price puts RS1 in the middle of the commercial launch market. Rocket Lab’s Smaller Electron costs $ 7 million per launch SpaceX The heavier Falcon 9 costs $ 62 million.

Test launch of E2 engine.

ABL space

The company said its manifest contains a backlog of 14 customers and 75 contract launches. Includes bulk order from Lockheed Martin Earlier this year. The company has signed a long-term contract with ABL for up to 58 rockets for launch by 2029.

Rocket Builder ABL Space Raises $ 200 Million With a Valuation of $ 2.4 Billion

Source link Rocket Builder ABL Space Raises $ 200 Million With a Valuation of $ 2.4 Billion

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