- X-Bow Systems recently announced it raised $27 million in Series A funding. These are the details.
X-Bow Systems – a U.S.-based space technology company applying revolutionary additive manufacturing techniques to the production of solid rocket energetics – recently announced that it has closed a $27 million Series A investment round. The Series A round was co-led by Crosslink Capital and Razor’s Edge Ventures, with additional participation from Lockheed Martin Ventures and Broom Ventures. And X-Bow’s capital raise team was led by its co-founder and CRO, Maureen Gannon. The capital raise comes at a time of significant growth for X-Bow as the company advances its patent-pending additive manufacturing technology for solid rocket energetics and expands its solid rocket motor product portfolio.
This funding round closes ahead of X-Bow’s static fire test of its 32-inch diameter ‘Ballesta’ solid rocket motor and subsequent launch at White Sands Missile Range, N.M. And this will be the first large-diameter scale motor designed and tested by a non-legacy systems integrator supplier in over 30 years, bringing innovation to the sector from a modern technology competitor.
X-Bow is poised to disrupt the solid rocket motor industry with its affordable large-scale motor designs and modular boost vehicle architectures, which are already in development with customers across the U.S. national security, defense and space communities who see X-Bow’s additive manufacturing as a transformational technology addressing their unmet needs. And the new financing will further accelerate customer support, grow the team, and invest in the company’s next generation of product offerings.
KEY QUOTES:
“We are proud of the support we have received from our investors and appreciate the confidence they signal in X-Bow’s team, breakthrough technology and innovative approach to solid rocket motor development. Raising a strong round with these high caliber investors allows us to increase our rapid growth and accelerate our plans to disrupt a critical industry. I am also very fortunate to work with an outstanding team here at X-Bow that is making groundbreaking achievements in the sector.”
— Jason Hundley, X-Bow CEO and Founder
“X-Bow has a great combination of experienced leadership and a truly innovative additive manufacturing technology for energetics. They are the much-needed changemaker poised to disrupt the energetics market with its disruptive technologies. Crosslink invested in X-Bow because of its ability to catalyze a critical evolution in the national security, defense and commercial space technology markets.”
— Matt Bigge, Crosslink Capital Partner
“The X-Bow team brings a unique perspective and clear vision of the gaps within the traditional ecosystem of solid rocket motor manufacturers. The company’s proprietary additive manufacturing approach to solid rocket energetics, motors and architectures will, for the first time, enable rapid, agile, cost-effective solutions to be brought to a market that has always thought about product development in terms of years of development time and tens or hundreds of millions of dollars per product. We invest in great management teams with differentiated products that solve large, difficult problems across both national security and the commercial enterprise markets and are extremely excited to partner with X-Bow’s team to help accelerate their growth and product expansion.”
— Mark Spoto, co-founder and Managing Partner of Razor’s Edge Ventures
