ABL Space Systems, a US-based developer of launch vehicles for space, has secured $49m from investors including Lockheed Martin Ventures, aerospace manufacturer Lockheed Martin’s corporate venturing unit, it revealed on Monday.
Venture capital firm Venrock led the round, which also featured New Science Ventures and Lynett Capital. It closed in March this year and was announced alongside $44.5m of US government contracts over the next three years.
Founded in 2017, ABL is developing a launch vehicle for small satellites together with a versatile launch system built into ordinary shipping containers that is intended to be deployable wherever convenient for a customer.
Lockheed Martin Ventures had previously invested an undisclosed amount in ABL in July 2019. The company plans to execute the first demonstration launch of its rocket in early 2021.
Dan Piemont, founder and chief financial officer of ABL, said: “We have completed hundreds of engine, stage and ground system tests across multiple deployments to unimproved sites. All were performed on generator power with fully self-sufficient systems.
“From the beginning, we have focused on developing tactically responsive launch [concept of operations] alongside our technology.
“The result is a large capacity, fit-for-purpose resilient launch system. I am excited to deliver value to our customers in the United States government and our commercial customers across the US and the globe with this technology.”
Photo courtesy of ABL Space Systems Company.
