TOP NEWS

Rocket Lab Finds $140M For Satellite Launch Platform

Huntington Beach-based Rocket Lab said on Thursday that it has raised a big new funding round, worth $140M, in its Series E funding round. The funding was led by Future Fund, and also included Greenspring Associates, Khosla Ventures, Bessemer Venture Partners, DCVC (Data Collective), Promus Ventures, K1W1, pluse the Accident Compensation Corporation of New Zealand. The funding brings its total raised to more than $288M. The new round comes just a few days after the company's first commercial payload launch into space. The firm says it is now worth more than $1 billion after the latest funding. Rocket Lab develops small, space launch vehicles, designed specifically for putting small satellites into space. The company is led by CEO Peter Beck, and unlike SpaceX, is targeting more the market for small, low-earth-orbit (LEO) vehicles. The "smallsat" market--using small "Cubesat" and other satellites--is also being aimed at by Virgin Orbit and others.