Apollo Fusion, a Mountain View, CA-based satellite propulsion company, closed a $10m Series B funding round.
Reid Hoffman from Greylock Partners and the co-Founder of LinkedIn made the investment and joined Apollo Fusion’s Board of Directors.
This Series B investment brings the total amount raised to over $18m.
The company intends to use the funds to ramp up manufacturing to deliver to commercial and government customers in the US and Europe.
Founded by Mike Cassidy (serial entrepreneur of four successful startups and former Vice President at Google as leader of Project Loon) and Ben Longmier (former professor of Aerospace Engineering at the University of Michigan and founder of an aerospace company which was acquired by Apple), Apollo is advancing Apollo Constellation Engine, a new electric propulsion system for satellites featuring innovations in the cathode, flow system, magnetic lensing, magnetic circuit, thermal radiation, and propellant.
The company’s expected expansion includes a doubling of Apollo’s lab space, increasing the manufacturing capacity to deliver hundreds of systems per year, and commissioning several new large thermal vacuum chambers to accelerate acceptance testing of hundreds of Apollo Constellation Engine (ACE) propulsion systems.