Electron rockets are under construction at Rocket Lab’s production facility in New Zealand. (Rocket Lab Photo)
Fresh on the heels of a successful satellite launch, Rocket Lab today announced that it has received $140 million in new investment.
Rocket Lab said the Series E financing round was led by Future Fund and closed last month, well in advance of last weekend’s “It’s Business Time” mission. The Electron rocket launch from the California-based startup’s pad on New Zealand’s Mahia Peninsula put six satellites in orbit and tested an experimental drag sail for small satellites.
The new round brings Rocket Lab’s total funding to $288 million and puts the company’s valuation well past a billion dollars, extending its status as a startup “unicorn.”
This month’s launch was only the second successful orbital mission for Rocket Lab, which was founded by New Zealand-born CEO Peter Beck in 2006. The Electron’s maiden launch in May 2017 made it to space but didn’t make it to orbit. This January, the second test launch successfully deployed satellites in orbit, setting the stage for a fully commercial follow-up.
“It has been a big year for Rocket Lab, with two successful missions to orbit and another about to ...