WASHINGTON — SpinLaunch, a startup pursuing an alternative approach for placing payloads into orbit, has raised $35 million in a new funding round disclosed Jan. 16.
The company, headquartered in Long Beach, California, said the new round featured several funds that included Airbus Ventures, the venture capital arm of aerospace company Airbus. Other investors include venture capital funds GV, KPCB, Catapult Ventures and Lauder Partners, as well as John Doerr and Byers Family.
With this new funding round, the company has now raised $80 million, it said. SpinLaunch previously announced a $40 million round in June 2018.
In a statement announcing the round, Jonathan Yaney, founder and chief executive of SpinLaunch, thanked “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.”
The company has offered few details about how it will achieve that vision of low-cost and frequent launch. In its statement, SpinLaunch says it is developing “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 ...