- Laurence Russell
Spinlaunch closes $71 million series B funding round to continue development of kinetic launch
SpinLaunch announced today that the company has closed a $71 million Series B funding round. The funds will be used to continue the development and commercialization of the world’s first kinetic launch system and satellite product line, designed to provide low-cost, high-cadence, environmentally responsible space access.
The round was led by ATW Partners, and includes Kleiner Perkins, GV, ATMA Capital, ONA Capital, Lauder Partners, McKinley Capital, Tyche Partners, as well as John Doerr, Brook Byers, Asher Delug, Chuck Brady, Andrew Farkas, and Greg McAdoo. The Series B financing, which includes equity and debt, brings SpinLaunch’s total funding to $150 million.
“In the last two years, even during difficult COVID times, SpinLaunch has shown remarkable and continued success,” said Wen Hsieh, General Partner of Kleiner Perkins. “We share in the company’s goal to realize the full potential of the space economy by developing a revolutionary space launch system that is both very low-cost and environmentally sustainable.
“SpinLaunch’s mission is to bring the world low-cost, sustainable access to space. We’ve taken a big step in that direction with the completion of our 33-meter Suborbital Mass Accelerator,” explained CEO Jonathan Yaney. “We have completed nine successful flight tests to date, retiring the technical risk as we prepare the way for the construction of our full-size Orbital Launch system. In addition, the team continues to build out a low-cost, mass-manufactured, satellite product line that will ensure our customers have a uniquely differentiated platform for building space capabilities.