Firefly Aerospace, a spacetech company founded by a Ukrainian entrepreneur Max Polyakov, has announced the closing of a $175 million Series D round, bringing its value to more than $2 billion.
Investment details
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The round was led by a new investor, RPM Ventures. Both existing investors and a number of other new ones participated, including GiantLeap Capital and Human Element.
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The funds will be used to expand the market with the Elytra spacecraft, transition to large-scale production of the Alpha launch vehicle, and accelerate the qualification of equipment for new rockets currently under development.
Firefly Aerospace CEO Kirk Koert says the team is preparing for 2025, which will “redefine the industry and make history.” The company may become the second to land a commercial lunar lander on the moon - Firefly is ready to launch its first Blue Ghost mission to the Earth's satellite as part of NASA's commercial lunar flight initiative.
“The team is simultaneously preparing for multiple Alpha launches under contracts with Lockheed Martin, L3Harris, True Anomaly, NASA and NOAA, and is developing a medium launch vehicle with Northrop Grumman. At the same time, the company is finalizing final preparations for the first Elytra mission, a configurable spacecraft that provides in-orbit services and a deep space communications network,” the website says.
About Firefly Aerospace
Firefly Aerospace was founded by a Ukrainian, Max Polyakov, in 2017 after buying out another bankrupt aerospace company. Firefly Aerospace focused on the US market and cooperation with NASA, while also having a research and development center in Dnipro, Ukraine.
In November 2021, the U.S. Committee on Foreign Investment sent Polyakov, who owned 58% of the company, a letter demanding that he sell his stake due to concerns about U.S. national security-the government there feared the loss of valuable technology in a country at war since 2014. Polyakov agreed to the terms, transferring his shares to the company's CEO Tom Markusik for just $1.
Last year, Firefly announced the closing of the third installment of its Series C round, raising about $300 million. In September 2023, the company successfully launched its Alpha rocket as part of the Victus Nox mission commissioned by the United States Space Force (USSF). This was the third successful launch of the Alpha rocket.
