Total amount raised
$175.5 Millions
Latest funding date
02/01/2025
Location
K2 Space has successfully raised $110 million in a Series B funding round, following a $50 million raise in the previous year. The company is focused on developing high-capability satellites at the cost and speed typically associated with small satellites.
Keep reading to explore the intricacies of K2 Space's fundraising journey and the investors backing this innovative platform.
What Is K2 Space?
K2 Space, founded in 2022, is based in Torrance, California. The company was established by Karan Kunjur and Neel Kunjur.
Specializing in developing large, high-capability satellites, K2 Space aims to deliver high power at a low cost. Their satellite bus platforms are designed for efficient deployment across multiple orbits.
With a team of 101-250 employees, K2 Space is making significant strides in the space industry by maximizing the power, mass, and volume that can be deployed with current launch vehicles.
How Much Funding Has K2 Space Raised?
- Seed Round
- Amount Raised: $8.5M
- Date: March 2023
- Lead Investors: First Round Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial satellite bus platform and establish the company's operational capabilities.
- Seed Round
- Amount Raised: $7M
- Date: October 2023
- Lead Investors: Alpine Space Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the satellite bus platform and prepare for initial customer missions.
- Series A
- Amount Raised: $50M
- Date: February 2024
- Lead Investors: Altimeter Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production capabilities and expand the engineering team.
- Series B
- Amount Raised: $110M
- Date: February 2025
- Lead Investors: Lightspeed Venture Partners, Altimeter Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate satellite production, improve production capacity and efficiency, and support the development and launch of the Gravitas mission.
Total amount raised: $175.5M. Current valuation: Not publicly disclosed.
Key Investors
- Altimeter Capital
- Details: Altimeter Capital is a technology-focused investment firm that partners with visionary entrepreneurs to build iconic companies. They invest in both public and private markets, providing growth capital to companies at various stages of development.
- Investment Focus Areas: Technology, Software, Internet
- Notable Investments: Snowflake, Roblox, Unity Technologies
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. They have a global presence with investments in various regions including the US, China, India, and Israel.
- Investment Focus Areas: Enterprise, Consumer, Health, Fintech, Cleantech
- Notable Investments: Snap Inc., Affirm, Grubhub
- Alpine Space Ventures
- Details: Alpine Space Ventures is a venture capital firm that focuses on investing in space technology companies. They aim to support the growth and development of innovative space-related businesses.
- Investment Focus Areas: Space Technology, Satellite Communications, Aerospace
- Notable Investments: Isar Aerospace, Rocket Factory Augsburg, Mynaric
- First Round Capital
- Details: First Round Capital is a seed-stage venture capital firm that specializes in providing early-stage funding to technology companies. They focus on helping startups grow from the ground up with a hands-on approach.
- Investment Focus Areas: Technology, Consumer Internet, Enterprise Software, Healthcare, Fintech
- Notable Investments: Uber, Square, Roblox
What's Next for K2 Space?
K2 Space is poised to capitalize on the growing demand for high-capacity satellite buses, particularly in Medium Earth Orbit (MEO). With their new 180,000 sq ft facility, they aim to produce up to 100 satellites annually, each costing $15 million. This positions them to meet the needs of both national security and commercial sectors, offering global coverage with fewer satellites.
As they scale production and improve efficiency, future fundraising opportunities are likely. The successful launch of the Gravitas mission in 2026 could attract additional investors, further bolstering their financial standing. However, challenges such as operating in high radiation environments and demonstrating new technologies like electric propulsion orbit raises remain. Overcoming these hurdles will be crucial for their continued growth and success.
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