XCOR Aerospace, a US-based developer of rocket-based products, has reached the first close of its series B round, raising $14.2m in financing, led by Space Expedition Corporation (SXC) of The Netherlands.
XCOR is working on a research and development centre in Texas as it seeks to build a range of products including rocket-powered vehicles, propulsion systems, non-flammable composites and rocket piston pumps. SXC is its lead wet-lease customer and also its general sales agent.
The company previously closed a $5m round in February 2012 from private investors including Esther Dyson and Pete Ricketts. Michiel Mol and Mark Hoogendoorn of SXC will join XCOR’s board in connection with the funding.
“Investing in XCOR is much more than investing in innovative technology and a team of highly skilled engineers,” Hoogendoorn said. “Most of all, it’s investing in a long term vision we strongly believe in that will enable a new era of sustainable and regular space access that will positively impact all mankind.”
– Photo courtesy of Mike Massee via XCOR Aerospace, Inc.