- SpinLaunch, a company known for developing the world’s first kinetic launch system, announced it has raised $35 million in funding
SpinLaunch announced it has raised $35 million in funding for the continued development of the world’s first kinetic launch system — which is designed for providing the lowest-cost and an environmentally responsible orbital launch system in order to serve the growing small satellite industry. The investors in this round include Airbus Ventures, GV, KPCB, Catapult Ventures, Lauder Partners, John Doerr and Byers Family. Including this round of funding, SpinLaunch has raised $80 million since being founded.
This round of funding will be used for scaling the SpinLaunch team and technology and continue building out SpinLaunch’s new corporate headquarters in Long Beach, California. Plus it will be used for completing the flight test facility at Spaceport America in New Mexico.
How does it work? SpinLaunch is revisiting fundamental physics and leveraging proven industrial technologies for creating a system that accelerates the launch vehicle to hypersonic speeds using ground-based electricity. And applying the initial performance boost from a terrestrial-based launch platform will enable the company to provide a substantially lower cost launch to orbit multiple times per day.
The company’s responsive launch system utilizes a large mass accelerator to provide on demand launches of small satellites in virtually any weather at a much lower cost and higher frequency than existing or proposed launch systems.
“Our team at SpinLaunch greatly appreciates the continued support of this formidable syndicate of investors, who share our vision of enabling low-cost and frequent launch of imaging and communications constellations that will protect our planet and humanity.” said SpinLaunch founder and CEO Jonathan Yaney. “Later this year, we aim to change the history of space launch with the completion of our first flight test mass accelerator at Spaceport America.”
Yaney is a 1,000+ hour pilot and a serial entrepreneur with more than 15 years of experience running companies in IT, construction, consulting, and aerospace industries.
Last year, SpinLaunch had relocated to a new 140,000 square foot facility in Long Beach, California. And the funding will be used for investing in equipment and machinery in order to become a world-class R&D manufacturing facility. The company’s first flight test is expected to happen later this year.