Agile Space Industries, an in-space propulsion solution provider recently closed a seed funding round of $13 million. The company plans to enhance its production operations and meet the needs of multiple customers for lunar landing missions.
Among the investors, one finds  Lockheed Martin Ventures that already made strategic investments in Fortify and Sintavia, demonstrating how it values AM-enabled applications/businesses.
“Lockheed Martin is at the forefront of technological advancement and innovation in today’s evolving space economy,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures. “Our investment in Agile Space Industries underscores our commitment to the development of breakthrough technologies that bring us closer to discovering more of space.”
Agile is delivering on the vision of bringing a new generation of in-space chemical propulsion products and technologies to the space industry. The company recently announced qualification of their first product, the A110 thruster, and is now building dozens of flight units that will be used by multiple customers to land on the Moon.
Chris Pearson, Agile’s CEO, said “Since 2020, revenues have grown more than 70% annually as we emerged as the global leader of in-house metal additive manufacturing and hypergolic propulsion test capabilities. Our customers benefit from our novel designs that push performance while dramatically reducing development and qualification lead-times”.
Seed-2 funding will support continued business expansion such as raising the capacity of Agile’s industry leading chemical propulsion test infrastructure. Towards the end of this year, Agile expects to launch a Series-A investment round to allow larger scale up of production operations required to meet customer demand.
Lockheed Martin Ventures’ investment marks the closing of the round, which was led by Caruso Ventures and included Greater Colorado Venture Fund (GCVF), CORI Innovation Fund and Greenline Ventures.
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