SpinLaunch raises $71 million
Posted: Sun, Sep 25, 2022, 8:44 AM ET (1244 GMT)
SpinLaunch raised $71 million to continue development of its alternative launch system. ATW Partners led the Series B funding round announced Tuesday, with a number of other funds and individuals participating. The company has raised $150 million to date to work on a launch system that uses a giant centrifuge as a first stage, hurling vehicles at hypersonic speeds. The company built a suborbital prototype at Spaceport America and has conducted several tests since last October. SpinLaunch anticipates having an orbital system ready no earlier than 2026, although a company official recently said an "intermediate service" using some of its technologies could be ready in 2024.
SpinLaunch raised $71 million to continue development of its alternative launch system. ATW Partners led the Series B funding round announced Tuesday, with a number of other funds and individuals participating. The company has raised $150 million to date to work on a launch system that uses a giant centrifuge as a first stage, hurling vehicles at hypersonic speeds. The company built a suborbital prototype at Spaceport America and has conducted several tests since last October. SpinLaunch anticipates having an orbital system ready no earlier than 2026, although a company official recently said an "intermediate service" using some of its technologies could be ready in 2024.
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