Spaceflight Industries, a Seattle, Washington-based integrated space products and services company, secured $20m in Series B funding.
The round was co-led by RRE Venture Capital and Vulcan Capital with participation from Razor’s Edge Ventures. As part of the financing, Spaceflight has added three new members to its board of directors:
Charles Beames, president of Vulcan Aerospace;
Will Porteous, general partner of RRE Ventures; and
Richard Fade, a partner at Ignition Partners serving as the independent director.
Led by Jason Andrews, CEO, Spaceflight Industries is the parent company of two well-established Seattle-area aerospace and space logistics companies: Andrews Space and Spaceflight Services. These businesses have now been combined under the Spaceflight brand to form a consolidated space products and services company focused on enabling new applications through the commercialization of space.
The company provides comprehensive small-satellite products and services from development to launch, communications and operations.
The company intends to use the funds to accelerate the ongoing growth and development of its subsidiaries: Spaceflight Systems (formerly Andrews Space), Spaceflight Services and Spaceflight Networks, which together provide small-satellite solutions and services from development to launch, communications and operations, hire additional engineering and software people and drive strategic initiatives to further expand its market reach and comprehensive capabilities.
This latest financing round brings Spaceflight’s total funding to $27.5m.
FinSMEs
11/03/2015