Agile Space Industries
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Veteran Ventures Capital Announces Strategic Investment in Agile Space Industries, Expanding Portfolio of Advanced Space Propulsion Solutions Amid Rapid Market Growth
Veteran Ventures Capital (VVC), a venture capital firm dedicated to investing in dual-use national security technology businesses led by veteran entrepreneurs and leaders, announced a strategic investment in Agile Space Industries (Agile), a leading innovator of in-space chemical propulsion technologies. Agile specializes in the development of advanced chemical propulsion systems, including thrusters and rocket engines for satellites and spacecraft, which are designed, 3D printed, and tested all under one roof. This unique approach is rapidly transforming the in-space propulsion market. The investment marks the first capital deployment from Veteran Ventures Capital’s 2nd Fund and aligns with VVC’s ongoing commitment to revolutionizing space propulsion, following its successful Fund I investment in Phase Four, a provider of electric and multi-mode propulsion systems for satellites.
Agile Space Industries’ advanced chemical propulsion technologies provide rapid-response capabilities and high thrust efficiency, both of which are critical for a variety of space missions, including maneuvering, orbit raising, and deep-space exploration. The global space propulsion market is projected to grow at a compound annual growth rate (CAGR) of over 30% through 2030, fueled by increasing demand for both chemical and electric propulsion systems across commercial and national security sectors. VVC’s investment in Agile expands its strategic portfolio in space propulsion, complementing Phase Four’s electric and multi-mode systems to provide a comprehensive range of propulsion solutions towards diverse and evolving satellite constellation requirements.
This strategic investment will enable Agile Space Industries to accelerate its product development, increase production capacity, and continue advancing its innovative propulsion technology. Agile’s solutions enhance the operational flexibility and performance of spacecraft, positioning the company as a key player in the expanding space industry.
🖨️🚀 Agile raises $13 million to expand production
Agile Space Industries raised $13 million to expand production and development of propulsion systems. The seed funding round, announced June 23, was led by Caruso Ventures. Participants included Lockheed Martin Ventures, Greater Colorado Venture Fund, CORI Innovation Fund and Greenline Ventures. Durango, Colorado-based Agile has raised more than $18 million to date.
With the latest funding, Agile plans to expand its metal additive manufacturing and chemical propulsion testing infrastructure, Pearson said. “In addition, we will be looking to accelerate some of our product development activities.”