ABL Space Systems adds 0 million to previously raised 0 million

Posted by Kapil on October 29th, 2021

DUBAI, United Arab Emirates — ABL Space Systems, a small launch vehicle company, raised an extra 0 million just seven months after raising 0 million.

Fund raising by ABL

ABL announced the additional fundraising on Oct. 25 as part of a 0 million Series B deal that was completed in March. The amended Series B was funded by an existing group of investors.

1. Rowe Price Associates advised funds and accounts in the original Series B round. Fidelity Management & Research LLC and another “global investment management business” were among the early investors. The company was valued at .3 billion in the original Series B investment, but the extended round nearly doubles that to .4 billion.

According to Dan Piemont, president and co-founder of ABL, the company still possesses the majority of the 0 million it raised in March. “Somewhat opportunistic and driven by insider interest,” he said of the fresh round. However, the majority of the additional funds will be used to ramp up production of its RS1 vehicle, which is nearing its first launch.