XCOR Aerospace, a Mojave, CA-based company that develops and produces reusable rocket powered vehicles, propulsion systems, advanced non-flammable composites and other enabling technologies, has closed a $5m funding.
Backers include Esther Dyson, Pete Ricketts (co-owner of the Chicago Cubs) and several Silicon Valley entrepreneurs and former venture capitalists.
The round is designed to fund the company through production of its Lynx Mark I Suborbital vehicle.
Founded by CEO Jeff Greason and COO Andrew Nelson, XCOR Aerospace is working with aerospace prime contractors and government customers on major propulsion systems, and concurrently building the Lynx, a piloted, two-seat, fully reusable, liquid rocket powered vehicle that takes off and lands horizontally. The Lynx-family of vehicles serves three primary missions depending on their specific type including:
– research & scientific missions,
– private spaceflight, and
– micro satellite launch (only on the Lynx Mark III).
Following the financing, the board has been reformulated and now includes Esther Dyson, Stephen Fleming, Jeff Greason and Dan DeLong.