US-based rocket developer Astra has emerged from stealth with over $100m in funding from backers including Airbus Ventures, the corporate venturing vehicle for aerospace manufacturer Airbus, Bloomberg reported yesterday.
Acme Capital, Advance, Canaan Partners, Innovation Endeavors and private investor Marc Benioff are also among the the company’s backers
Founded in 2016, Astra is developing low-Earth orbit spacecraft including satellites and rockets designed to be mass produced at a reduced production cost.
The company was a finalist for the Launch Challenge scheme run by the US Department of Defence’s Defence Advanced Research Projects Agency, which provides a $12m reward for the winner.
Astra intends to make hundreds of aluminium-based space vehicles per year at a large-scale production plant it is constructing. The first launch of its technology is scheduled to take place in February 2021 at a spaceport located in the US state of Alaska.
Regarding the planned launch, Astra founder and CEO Chris Kemp said: “It would be unprecedented if this was a successful orbital flight. We want to emphasise that this is one of many launches we will do in an ongoing campaign.”
