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Wednesday, March 22, 2017 3:22:34 PM
3D-printed rocket launch startup Rocket Lab raises $75M in Series D round
At 3ders.org - 3D printed rocket launch startup Rocket Lab raises $75M in Series D round - Mar 22, 2017
An excerpt:
3D printed engines are no longer unusual in the aerospace sector, but few have been as high-profile as those fitted to the compact Electron launch vehicle, which will begin test flights over the next few weeks. Fortunately, Rocket Lab seems to be inspiring a lot of faith in its 3D printed rocket engines—so much faith, in fact, that a number of investors have just sunk $75 million into the startup.
The Series D financing round was led by Data Collective, a venture capital fund based in San Francisco, while additional investment was provided by Promus Ventures, an undisclosed investor, and existing investors Bessemer Venture Partners, Khosla Ventures and K1W1. The funds will be used to expand existing manufacturing facilities in California and New Zealand, where the Electron is being developed.
The Huntington Beach, California site will be used to build the engine and guidance systems, while the rocket’s physical structure will be made in New Zealand, which is also where everything will finally be assembled. The 3D printed Rutherford engine, named after New Zealand scientist Ernest Rutherford, is made with an electron beam melting 3D printing process.
“We started off with a clean sheet of paper,” Rocket Lab CEO Peter Beck said of the rocket’s design. “They designed the rocket to be mass produced—unlike the bespoke approach taken by many rocket makers—and to be able to be launched weekly, a currently unheard-of tempo in the industry. Test flights have been delayed, but the first one could come in the next four to eight weeks.”
Peter Beck at Rocket Lab L.A. (above) and the Electron launch vehicle at Rocket Lab NZ
At 3ders.org - 3D printed rocket launch startup Rocket Lab raises $75M in Series D round - Mar 22, 2017
An excerpt:
3D printed engines are no longer unusual in the aerospace sector, but few have been as high-profile as those fitted to the compact Electron launch vehicle, which will begin test flights over the next few weeks. Fortunately, Rocket Lab seems to be inspiring a lot of faith in its 3D printed rocket engines—so much faith, in fact, that a number of investors have just sunk $75 million into the startup.
The Series D financing round was led by Data Collective, a venture capital fund based in San Francisco, while additional investment was provided by Promus Ventures, an undisclosed investor, and existing investors Bessemer Venture Partners, Khosla Ventures and K1W1. The funds will be used to expand existing manufacturing facilities in California and New Zealand, where the Electron is being developed.
The Huntington Beach, California site will be used to build the engine and guidance systems, while the rocket’s physical structure will be made in New Zealand, which is also where everything will finally be assembled. The 3D printed Rutherford engine, named after New Zealand scientist Ernest Rutherford, is made with an electron beam melting 3D printing process.
“We started off with a clean sheet of paper,” Rocket Lab CEO Peter Beck said of the rocket’s design. “They designed the rocket to be mass produced—unlike the bespoke approach taken by many rocket makers—and to be able to be launched weekly, a currently unheard-of tempo in the industry. Test flights have been delayed, but the first one could come in the next four to eight weeks.”
Peter Beck at Rocket Lab L.A. (above) and the Electron launch vehicle at Rocket Lab NZ
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