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Austin funding wrap: 8VC has new fund; Triumvira, Austin Software report deals bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
Cedar Park-based Firefly Aerospace has raised $75 million in funding as the company moves closer to its inaugural rocket launch. Firefly, which was founded in 2014, is an aerospace company working to develop a group of launch vehicles and in-space services. The company has contracts with multiple commercial and government customers, including NASA and General Atomics. Firefly said it estimates its valuation at more than $1 billion. The funding round was led by DADA Holdings, and included investment from Astera Institute, Canon Ball LLC, Reuben Brothers Limited, SMS Capital Investment LLC, Raven One Ventures and the XBTO Ventures. The company has said its goal is to become the preeminent end-to-end space transportation company in the small space industrial sector. Firefly is currently focused on enabling commercial and exploration missions from low earth orbit to the Moon. ....
Raven One Ventures, Firefly said that its seed investor, Noonsphere Ventures, led by Dr. Max Polyakov, sold approximately $100 million of its Firefly holdings to certain Series A participants and other investors through secondary transactions to satisfy demand to participate in the round. Noonsphere Ventures is still the largest investor in Firefly. Firefly is approaching the first launch of its Alpha small launch vehicle. It has completed acceptance testing for Flight 1, and the vehicle has been fully installed on Firefly’s Vandenberg Air Force Base Space Launch Complex 2 (SLC-2) launch site. CEO Dr. Tom Markusic said in the release that after the first launch, the company also intends to raise an additional $300 million later this year to fund its growth plans for new spacecraft and launch vehicle development through 2025. ....
Austin has gained another tech unicorn this time, in the space industry. On Tuesday, Firefly Aerospace announced it raised $75 million through a Series A round and closed a $100 million secondary transaction. The two deals mean that the Cedar Park-based aerospace company, which develops small and medium-sized launch vehicles, spacecraft and in-space services, is now valued at more than $1 billion. The Series A round was led by DADA Holdings. Canon Ball LLC, Astera Institute, SMS Capital Investment LLC, Raven One Ventures, Reuben Brothers Limited, the XBTO Ventures and other investors also participated in this round. The remaining funding comes from seed investor Noosphere Ventures selling approximately $100 million of its Firefly equity holdings to some of the Series A participants and other investors, according to a news release. ....
Firefly Aerospace raises $75M Series A at a $1B+ valuation, plus $100M in secondary sale Firefly Aerospace has raised a total of $175 million, across a $75 million Series A round that valued the company north of $1 billion, and a $100 million secondary transaction which consisted of the sale of holdings held by primary Firefly investor Noosphere Ventures. The launch startup also announced that it intends to raise another $300 million later in 2021, after its forthcoming inaugural Alpha rocket launch, which is currently targeting a June take-off. Firefly is one of a crop of new commercial launch providers aiming to follow in the footsteps of SpaceX and Rocket Lab, with a goal of serving the growing small satellite launch market. The company has been developing its Alpha rocket for the past few years, and has also been awarded commercial and civil government launch contracts from NASA, General Atomics and others. The Texas-based startup has had its share of setbacks, includi ....