The Series B funding round was led by the venture capital firm Razor’s Edge
WASHINGTON — X-Bow Systems, a space technology startup specializing in solid rocket motors and small launch vehicles, has secured $70 million in Series B funding to expand its production capabilities and complete a new manufacturing facility in Texas.
The Albuquerque, New Mexico-based company announced the investment round July 10, led by venture capital firm Razor’s Edge. Other participants include Lockheed Martin Ventures, Boeing Ventures, Crosslink Capital and Balerion Space Ventures.
Founded in 2016, X-Bow has positioned itself as an emerging player in the solid rocket motor market, using 3D printing technology to produce motors and propellants. The company claims this approach significantly reduces production time and costs compared to traditional methods.
The fresh capital will support increased production of solid rocket motors and the completion of a large factory in Luling, Texas, said Jason Hundley, CEO and founder of X-Bow. He said the new investments “address critical industrial base and defense needs, and we’re grateful for the support of our investors and various industrial partners.”
X-Bow has operations in New Mexico, California, Arizona, Alabama, Colorado, Texas, Maryland, Utah, and Washington, D.C.
X-Bow is part of a new wave of entrants in the solid rocket motor industry that are securing Pentagon contracts amid growing concerns about U.S. military overreliance on a diminishing pool of domestic suppliers. There has been a surge in demand for solid rocket motors, crucial components in hypersonic weapons, and conventional and nuclear missiles. “The Ukraine conflict has exposed the significant gaps that exist in the solid-rocket motor industrial base,” said Mark Spoto, co-founder and managing partner of Razor’s Edge and an X-Bow board member. “X-Bow’s innovative approach and planned expansion directly address these critical needs.”
Defense investors like Lockheed Martin and Boeing are major customers of solid rocket motor suppliers. Razor’s Edge, the lead investor, is known for its focus on technology companies that align with U.S. national security priorities.
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SOURCE: https://spacenews.com/x-bow-raises-70-million-to-boost-solid-rocket-motor-production/
