X-Bow Systems, a leading non-traditional producer of advanced manufactured solid rocket motors (SRMs) and hypersonics technologies, today announced the completion of the initial close of its Series B financing, raising over $70 million. The funding round was led by National Security technology-focused growth equity firm Razor’s Edge, with additional participation from Lockheed Martin Ventures, Boeing Ventures, Crosslink Capital, and Balerion Space Ventures.
This funding will accelerate the rapid growth of its hypersonic-capable vehicles, strategic and tactical scale solid rocket motor programs, and completion of its Luling, Texas gigafactory campus. And the company will also be expanding its engineering and R&D facilities across New Mexico.
With this funding, X-Bow will accelerate its growth trajectory as the nation’s third supplier of Solid Rocket Motors and continue in its quest to rapidly innovate and deliver agile, affordable solutions for SRMs, hypersonics, and associated adjacent markets.
Union Square Advisors served as the exclusive financial advisor to X-Bow for this transaction.
KEY QUOTES:
“Razor’s Edge invests in companies with great leadership teams and differentiated products that solve large, difficult National Security challenges, including defense and space needs. The Ukraine conflict has exposed the significant gaps that exist in the SRM industrial base. X-Bow’s team identified these critical gaps well ahead of the conflict and has built a sizable lead over other emerging suppliers. The company’s proprietary manufacturing technologies and insights into the market have enabled it to build a broad suite of SRM and energetics products. X-Bow has successfully demonstrated the ability to apply and scale these products to address huge needs in affordable hypersonics and the broader SRM industrial base and this capital will enable the company to make an even more meaningful impact in National Security.“
– Mark Spoto, co-founder and Managing Partner at Razor’s Edge and an X-Bow Board Member
“X-Bow Systems has experienced significant growth and success in the past year, securing multiple contracts for SRMs, energetics, and launch services. These successes are directly attributable to our team’s expertise and our patented advanced manufacturing techniques, which allow us to build, scale, and produce SRMs and energetics more affordably than traditional methods. The Series B funding will augment growth by accelerating the completion of the country’s second-largest SRM production facility (by capacity) in Luling, TX. This expansion addresses both critical industrial base and defense needs, and we’re grateful for the support of our investors and various industrial partners.“
– Jason Hundley, CEO and Founder
