Central regions | Finance, business | Technology & innovation
VCs back space cargo transportation by U.S.-based Russian
22 Jul '19
Momentus Space, a U.S.-based company founded by Mikhail Kokorich, a Russian national, raised $25.5m in its A funding round, announced Prime Movers Lab, an American investment company that led the round. Other investors included the Y Combinator start-up accelerator and a consortium of venture funds, including Liquid 2 Ventures, Drake Management, Mountain Nazca, and some others.
The company had already raised $8.3 million in 2018, and two weeks ago on July 5, it launched its first prototype spacecraft on a rideshare mission on a Soyuz rocket, to test out its water propulsion system in orbit.
Momentus is currently developing a fleet of spacecraft that would attach to satellites in Earth orbit. Using a water-based plasma thruster, each spacecraft would then be able to move these satellites to other orbits, including geostationary orbit, the Moon, and deep space destinations.