SpinLaunch Raised USD 35 Million in Series Funding

SpinLaunch Raised USD 35 Million in Series Funding

SpinLaunch is currently working on the world's first kinetic launch system, designed to provide the lowest-cost, environmentally responsible orbital launch system to serve the rapidly growing small satellite industry.

FREMONT, CA: California-based space startup SpinLaunch raised USD 35 million in a new funding round with participation from Airbus Ventures, GV, KPCB, Catapult Ventures, Lauder Partners, John Doerr, and Byers Family. The new funding round will be used to scale the SpinLaunch team and technology and continue to build out SpinLaunch’s new corporate headquarters in Long Beach, California, and complete the flight test facility at Spaceport America in New Mexico.

“Our team at SpinLaunch greatly appreciates the continued support of this formidable syndicate of investors, who share our vision of enabling low-cost and frequent launch of imaging and communications constellations that will protect our planet and humanity," said Jonathan Yaney, Founder, and CEO of SpinLaunch, Inc. “Later this year, we aim to change the history of space launch with the completion of our first flight test mass accelerator at Spaceport America.”

The company is currently working on the world's first kinetic launch system, designed to provide the lowest-cost, environmentally responsible orbital launch system to serve the rapidly growing small satellite industry. The response launch system will utilize a large mass accelerator to provide on-demand launches of small satellites in virtually any weather at an order of magnitude lower cost and higher frequency than any existing or proposed launch system.

SpinLaunch relocated to a 140,000 square foot facility in Long Beach, California, in January 2019. The additional funds will be used towards building this corporate headquarters and investing in equipment and machinery to be a world-class R&D manufacturing facility. The company is also looking to hire new talent for both its Long Beach headquarters and Spaceport test facility. The first flight is expected to take place later this year. The company was founded in 2014 by Jonathan Yaney, who serves as Chief Executive Officer. Mr. Yaney is a pilot with 1,000+ hours and serial entrepreneur with 15 years’ experience founding companies in IT, construction, consulting, and aerospace industries.

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