ACE thruster firing (Credit: Apollo Fusion)
MOUNTAIN VIEW, Calif. (Apollo Fusion PR) — Satellite propulsion company Apollo Fusion recently closed their Series B round of $10 million from Reid Hoffman from Greylock Partners. Reid Hoffman, also the co-Founder of LinkedIn, has joined Apollo Fusion’s Board of Directors.
Apollo’s mission is to help “enable the second space race” with a new satellite propulsion system that delivers 3 times more total impulse per kg (or per volume) than existing propulsion systems on the market.
This Series B investment brings the total amount raised to over $18 million for Apollo Fusion, which will use the funds to ramp up manufacturing to deliver to commercial and government customers in the US and Europe.
“We’re seeing tremendous interest from big prime contractors and from fast-moving startups,” says Mike Cassidy, CEO of Apollo Fusion. “The biggest customers have demanding requirements at the scale we’re discussing, so with this investment we’re expanding our testing and manufacturing capability to meet their needs.”
The expansion includes a doubling of Apollo’s lab space, increasing the manufacturing capacity to deliver hundreds of systems per year, and commissioning several new large thermal vacuum chambers to accelerate acceptance testing of hundreds of Apollo ...