Venture Capital: Rocket Propulsion Startup Ursa Major Lands $138M

December 1, 2023 | News, Venture Capital

Ursa Major has qualified its Hadley engine as the world’s first and only rocket engine for space launch, in-space, and hypersonic missions.

Ursa Major Technologies recently closed its Series D and D-1 funding rounds, securing a substantial $138 million investment led by Explorer 1 Fund and Eclipse, with participation from RTX Ventures, BlackRock-managed funds, Exor Ventures, Mack & Co., LLC, XN, and other institutional shareholders. This funding infusion is set to propel Ursa Major’s innovative Lynx solid rocket motor (SRM) program, supporting production capacity expansion and advancement in multiple propulsion initiatives.

Over the past year, Ursa Major has achieved significant milestones, garnering both commercial and government customers, delivering flight-ready engines, and unveiling groundbreaking engine concepts to address national defense gaps.

Key developments include the introduction of Draper, a revolutionary storable liquid engine designed for countering hypersonic threats, and Lynx, a solution for designing and manufacturing SRMs for tactical applications. Ursa Major’s exclusive focus on rocket propulsion aims to bridge crucial gaps in the defense industrial base, providing vehicle-agnostic engines for diverse launch and hypersonic applications, thereby reducing dependence on fragmented supply chains.

The company’s flexible rocket engines, applicable to both Department of Defense (DOD) and non-DOD missions, contribute to the space industry’s growth by offering a faster and more cost-effective alternative to in-house engine development.

Leveraging 3D printing for scalable production, Ursa Major’s innovative process redefines solid rocket motor design and manufacturing, addressing America’s SRM shortage with significant time and cost savings compared to traditional in-house propulsion development.

Related Story:  Axiom Space Raises $350M For Its Commercial Space Station

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