HUNTINGTON BEACH, Calf. -- Rocket Lab has closed a Series E financing round of $140 million. The funding round closed in October, prior to the launch of the successful mission 'It's Business Time,' and was led by existing investor Future Fund, with strong participation from current investors including Greenspring Associates, Khosla Ventures, Bessemer Venture Partners, DCVC (Data Collective), Promus Ventures and K1W1. New investor ACC also contributed to the round.
The Series E round close brings total Rocket Lab funding to date to more than $288 million. Furthermore, it increases the valuation past the previous mark of $1 billion. Rocket Lab did not say what the post-money valuation is.
While preceding the launch of 'It's Busiess Time', the round also follows the opening of Rocket Lab's new mass production facility for the Electron vehicle last month, as well as the announcement confirming the location of Rocket Lab's second orbital launch site. Construction has now begun on Rocket Lab Launch Complex 2, which is based within the Mid-Atlantic Regional Spaceport at NASA Wallops Flight Facility in Virginia, USA. Launch Complex 2 can support monthly orbital launches from US soil, and is designed specifically to serve the responsive space needs of government customers. Between the two Rocket Lab launch complexes, the company can support up to 130 orbital missions per year.
Rocket Lab is a leader in the burgeoning lightweight launch market. It's early successes has enabled the company to line up investors, customers, and talent in order to continue improving its competitive position versus other companies in the market. Rocket Lab is in a strong position to emerge as one of a handful of dominant players in the lightweight launch market.
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