X-Bow Systems – an American low-cost hypersonics provider – recently announced the closing of an interim funding round led by Lockheed Martin Ventures, the venture arm of Lockheed Martin. Additional investors included Crosslink Capital, Razor’s Edge Ventures, Balerion Space Ventures, Bravo Victor Venture Capital, and Capital Factory.
This interim funding round further fulfills X-Bow’s matching requirements for its $60 million STRATFI Program with AFWERX and the U.S. Airforce, selected earlier this year.
X-Bow Systems is transforming the aerospace industry with innovative and cost-effective additively manufactured energetics for the solid rocket motor and launch vehicle market. And X-Bow is also designing and building a suite of modular solid rocket motors and small launch vehicles for both orbital and suborbital launch services.
X-Bow is led by CEO Jason Hundley, Chairman Mark Kaufman, CTO Max Vozoff, CRO Maureen Gannon, General Counsel John Leary and a growing team of seasoned industry veterans and new space entrepreneurs.
KEY QUOTES:
“This interim investment in X-Bow is part of Lockheed Martin’s strategy to add anti-fragility in the solid rocket motor industrial base by enabling new technology and affordability in this sector, not only for our products but for the U.S. industrial base as a whole.”
— Chris Moran, vice president and general manager at Lockheed Martin Ventures
“X-Bow will apply these funds to its solid rocket motor technology and to completing the phase I build out of its ‘gigafactory’ style solid rocket motor campus. This new factory campus is commercially funded by X-Bow and its partnership with the Luling, TX Economic Development Corporation. Typically this type of solid rocket motor production capacity takes years and hundreds of millions of dollars of investment to develop. But we are completing our phase one in a matter of months at a fraction of the cost.”
— Jason Hundley, X-Bow CEO
