Rocket Factory Augsburg, headquartered in Augsburg, Germany, has revealed that it secured $32.9 million in a recent funding round led by KKR, a prominent global investment firm. The company specializes in space technologies and provides efficient and adaptable launch solutions for satellite constellations.
The funding infusion from KKR, a United States-based investment company, originates from a holding entity belonging to KKR European Fund VI, its latest European private equity fund. Renowned as a global investment firm, KKR specializes in alternative assets, capital markets, and insurance solutions. The company’s focus is on generating appealing investment returns, fostering expansion within its portfolio firms, and providing diverse financial products through its affiliated entities.
The secured funds are earmarked by Rocket Factory Augsburg to facilitate an integrated initial-stage test of its micro-launcher, RFA ONE, and to finalize the construction of its launch pad at the SaxaVord Spaceport located in Scotland.
The inaugural flight of RFA ONE is slated for the second quarter of 2024. With this infusion of investment, KKR will ascend as a primary investor in parallel with the existing strategic investor OHB. The funding aims to fortify RFA’s expansion trajectory and cater to the mounting global demand for space accessibility.
Stefan Tweraser, CEO of Rocket Factory Augsburg, states, “Our objective is to facilitate cost-effective entry to space and cultivate data-centric business models in the space domain, serving the purposes of monitoring, connectivity, and safeguarding our planet.”
Tweraser further adds, “This new financing reflects confidence in RFA and validates our cost-efficient approach and technical achievements. Partnering with KKR as a long-term investor makes us proud – their financial resources, global network and industrial expertise will accelerate our mission, and support RFA towards our first launch next year and beyond.”
About Rocket Factory Augsburg
Established in 2018, RFA is driven by the mission of fostering data-driven business models in the realm of space, specifically aimed at Earth monitoring and connectivity.
The space technology firm envisions providing launch services at exceptionally competitive rates, ferrying payloads weighing up to 1,300 kg into low Earth orbits and beyond on a weekly cadence. RFA’s overarching objective centers on democratizing space entry and curtailing launch expenditures within the space sector.
Setting itself apart, RFA ONE launch service boasts three distinct advantages: a strong customer-centric approach, precise in-orbit delivery, and mission adaptability through Redshift OTV, all bundled at an attractive price point.
A notable feat for the company was being the first European entity to successfully conduct a hot fire test of a fully staged combustion engine upper stage. Despite these accomplishments, the company’s cumulative investment remains under the $50M mark.