Key Highlights:
- Venus Aerospace has raised $20 million in Series A funding which was led by the Prime Movers Lab.
- The company will use the new funding to mature its three main technologies.
- Venus Aerospace has secured government contracts and scaled fast.
Venus Aerospace has raised $20 million in Series A funding which was led by the Prime Movers Lab. V. Aerospace is a start-up that develops hypersonic aircraft. The start-up is building a zero-carbon emission aircraft that will enable one-hour global travel.
Last year, Venus Aerospace raised $3 million in the seed round. The company will use the new funding to mature its three main technologies like the next-gen rocket engine, innovative aircraft shape, and leading-edge cooling that will allow the spaceplane to take off from existing spaceports, using existing infrastructure.
Venus Aerospace and Prime Movers Lab collaborate
Prime Movers Lab invests in breakthrough scientific companies that are reinventing and transforming the way we live and operate. The General Partner of Prime Movers Lab, Brandon Simmons, said, “Venus hit critical engine tests, vehicle design, and growth milestones that make me tremendously excited about the future of American hypersonic flight.” Venus Aerospace is equipped with a dedicated and skillful team of aerospace, military, and R&D veterans who are pushing the boundaries of high-speed transportation.
Andrew Duggleby, the CTO and Co-founder, shared “These recent advances in technology finally enable a spaceplane, a vehicle long imagined, but only now possible.”
Andrew stated that the company will utilize the funding to get into flight testing and engine testing at Spaceport Houston. He adds, “Bringing this technology forward into systems, drones, and ultimately spaceplanes, it will take both new space veterans and bright new minds to solve. We’ve gone from impossible to hard, and this investment will allow us to knock down the next few steps.”
Growth of Venus Aerospace
In 2021, Aerospace has secured government contracts and scaled fast. The company has designed and built the tech demonstration engine, executed key experiments at hypersonic wind tunnels and propulsion test facilities across the U.S., and started a ground test campaign at Spaceport Houston.
The company is excited to continue the partnership with Prime Movers Lab and other investors. The funding will help V. Aerospace push forward and achieve new milestones, hire great talent, and scale the organization.
