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XCOR Aerospace raises $14 million
Posted: Wed, May 28, 2014, 1:47 PM ET (1747 GMT)
XCOR Lynx vehicle illustration (Mike Massee/XCOR) Suborbital vehicle developer XCOR Aerospace announced Tuesday that it has raised $14.2 million in a new funding round led by Dutch investors that will allow the company to bring its suborbital spaceplane into service. The $14.2-million Series B round was led by Space Expedition Corporation (SXC), a Dutch company that had already partnered with XCOR to sell seats on flights of XCOR's Lynx vehicle. Several other existing and new investors joined the round. The SXC investment in XCOR has received the necessary approvals from the Committee on Foreign Investment in the United States, a branch of the Treasury Department that vets foreign investments in some types of American companies. The funding will allow XCOR to complete development and testing of the Lynx vehicle and bring it to market. Lynx, a rocket-powered vehicle designed to take off and land on runways, can carry a passenger or scientific experiments, along with a pilot.
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