ABL Space Systems, a prominent launch company, has filed a Form D with the U.S. Securities and Exchange Commission, indicating its goal to secure up to $100 million in new funding. The regulatory filing also reveals that the company has recently concluded a funding round, amassing over $40 million. This development marks the first instance of ABL securing venture funding since October 2021, when it successfully closed a $200 million funding round, valuing the company at $2.4 billion.
ABL Space Systems is poised to raise
00 million in new funding, following its recent filing with the U.S. Securities and Exchange Commission. The company’s innovative RS1 launch vehicle and GS0 ground system architecture, coupled with its strategic government contracts, position ABL as a key player in the evolving space industry.
Venture Funding and Investor Backing
Since its establishment in 2017, ABL Space Systems has garnered a total of $420 million from investors. Notable backers include T. Rowe Price, Fidelity Management, and Lockheed Martin Ventures. However, the details of the investors participating in the new funding round and ABL’s strategic utilization of the capital remain undisclosed as of the time of this report.
Revolutionary Launch System
ABL Space Systems is actively developing an innovative 88-foot-tall, two-stage launch vehicle known as RS1, alongside an integrated ground system architecture named GS0. The combined capabilities of RS1 and GS0 are designed to deliver a mobile, all-in-one launch system, as envisioned by CEO Harry O’Hanley. O’Hanley painted a promising picture of the integrated architecture, illustrating a scenario where a fleet of container trucks transforms into an orbital launch site within a few days.
Enhancing Domestic Launch Resiliency
In a recent blog post, ABL’s leadership emphasized the critical need for bolstering domestic launch resiliency, particularly at the launch site layer. The company advocates for the adoption of GS0 as a solution to fortify the launch site layer, offering a launch mount and a site system in a “proliferated” architecture.
Government Contracts and Future Plans
ABL Space Systems has not only made significant strides in the private markets but has also secured substantial contracts from the U.S. Space Force. Notably, the company clinched a $60 million contract last year to develop “responsive launch” capabilities, enabling launches at short notice. Despite encountering challenges in its earlier launch attempts, ABL has implemented major upgrades to both the rocket and ground system in preparation for its upcoming flight test.