Firefly Aerospace raised $175 million in an oversubscribed Series D round led by RPM Ventures, bringing its valuation to over $2 billion.

The funds will support increased production of its Alpha launch vehicle and Elytra spacecraft, and accelerate the development of new vehicles.

Firefly, a leader in responsive space capabilities, gained attention with its rapid-launch demonstration of the Space Force’s Victus Nox mission in 2023.

The company has secured significant contracts, including multi-launch deals with Lockheed Martin and L3Harris, but has conducted only one Alpha launch in 2024.

Firefly is also preparing for its Blue Ghost lunar lander mission with NASA, Space News has reported.

The round marks a confidence boost for Firefly, which recently underwent leadership changes, appointing Jason Kim as CEO.

Written by B.C. Begley