Luxembourg/ El Segundo, 28 October 2021. – The low-cost launcher ABL Space Systems raised $200 million in additional funding from its existing investors, bringing its valuation to $2.4 billion.
The company said it intends to use the capital raised to scale production of its RS1 launch vehicle and for research and development, but it did not disclose further details.
ABL has raised $420 million since its founding in 2017, the news agency Reuters reported.
The Californian company that develops low-cost launchers for small satellites is backed by funds advised by T. Rowe Price Associates Inc and Fidelity Management & Research.
ABL says it has contracts with 14 customers across commercial, defense, intelligence, and science sectors totaling over 75 launches.