The company K2 Space announced the engagement $110 million in a series B investment round, which will allow it to scale production of its high-powered multi-orbital satellite platform. This achievement coincided with the opening of a new factory area 180 000 square feet in Torrens, California, as well as with the successful first testing of technology in space.
In general, the company has attracted since its foundation $180 million venture investments and received more than $50 million in the form of government and commercial contracts.
What K2 Space is developing?
K2 Space is changing the economics of satellite communications and functionality. Her platform combines:
- High power
- Large carrying capacity
- Low cost of production
This allows customers to get more productive satellites at an affordable price, which was previously unattainable. As the demand for satellite networks with high computing power increases, the K2 Space solution helps customers avoid the trade-off between performance and cost.
The received financing will allow to scale production, hire new professionals and expand in-house component development.
Mission Gravitas: the first government contract
The company has announced that it has received a government contract for its first Gravitas mission. She has to demonstrate:
- Operation of the platform in the difficult conditions of medium Earth orbit (MEO), where the level of radiation is high.
- The first transfer of a satellite from low Earth orbit in history (LEO) to the middle school (MEO) using an electric motor.
This mission will simultaneously test commercial and government payloads, which will confirm the capabilities of the platform for a wide range of applications.
What's next?
Gravitas will be the first demonstration of the capabilities of the K2 Space satellite platform, which:
- Holds up to 10 satellites within one launch
- Suitable for operation in difficult MEO and GEO conditions
- It has the most powerful electric propulsion system, that ever flew.
Company, created by former SpaceX engineers, has already attracted attention as commercial, and national security clients, which note the uniqueness and flexibility of the platform.
Series B investment round will enable K2 Space to accelerate development and fill an important technology gap in the satellite platform market.