Thursday, September 22, 2022

SpinLaunch Lands $71M For Satellite Launch System

Long Beach-based SpinLaunch, which is developing low cost, satellite launch systems based on mass accelerators, says it has raised $71M in a Series B funding round. According to the company, the funding was led by ATW Partners, and includes Kleiner Perkins, GV, ATMA Capital, ONA Capital, Lauder Partners, McKinley Capital, Tyche Partners, as well as John Doerr, Brook Byers, Asher Delug, Chuck Brady, Andrew Farkas, and Greg McAdoo. The company says it has now raised a total of $150M in a combination of equity and debt. The company says the new funds will go towards development and commercialization of its system to launch satellites into space. The company's systems are based on what essentially looks like a giant centrifuge, spinning equipment at massive speeds before releasing them into space based on kinetic energy.