Ibadan, 18 February 2025. – K2 Space has raised $110 million in its Series B funding round to ramp up mass production of its multi-orbit, high-power satellite platform. Lightspeed Venture Partners and Altimeter Capital co-led the round, with participation from existing investors, Alpine Space Ventures, First Round Capital, and others.
This successful funding round comes as K2 celebrates the opening of its new 180,000-square-foot factory in Torrance, California, and the success of its first in-space demonstration flying some critical components developed in-house. Since its inception, K2 Space has raised $180M in equity and won over $50M in government and commercial contracts. The new capital will consequently help the company scale production, hire talent, and bring additional components in-house.
K2 Space aims to change the economics of satellite connectivity and functionality with its resilient, high power, high payload mass satellite platform at a cost that enables proliferation across orbits. With increasing demand for proliferated space applications requiring high throughput and levels of computing, K2’s solution intends to provide an answer for customers who, until now, had to trade between performance and affordability.
“Advanced space capabilities can’t be built on small, low-powered platforms,” explained Karan Kunjur, CEO at K2 Space, “but higher capability satellites have been far too expensive for most proliferated applications. This is the gap K2 fills – making highly capable, powerful satellites available to a much broader market. And because our satellites are designed to proliferate in higher orbits, our constellations require fewer satellites and fewer launches to provide global coverage.”
K2 Space recently announced a government contract for its first mission, “Gravitas”, to demonstrate the platform’s ability to operate in the high radiation environment of medium-earth orbit (MEO) and perform a low earth orbit (LEO) to MEO electric propulsion orbit raise.
