Impulse Space has secured $300 million in a preemptive Series C funding round, led by Linse Capital and including DFJ Growth, to accelerate its growth in the in-space transportation sector. This significant investment follows a $150 million Series B round less than a year prior.
“Impulse is tackling one of the most technically demanding challenges in aerospace with a speed and precision we rarely see,” stated Bastiaan Janmaat, managing partner at Linse Capital. “Their vertically integrated approach, proven track record, and ability to execute quickly in this market give them a real advantage.”
Eric Romo, president and chief operating officer of Impulse Space, explained that while this funding round wasn't initially planned, the opportunity presented by Linse Capital proved compelling. The funds will be used to scale production of their Mira and Helios vehicles, addressing a backlog of over 30 signed contracts valued at nearly $200 million.
Demand for the Mira vehicle is particularly strong in the defense sector, fueled by increasing space defense initiatives. This includes a partnership with Anduril to integrate their software for highly maneuverable space missions. On the commercial side, Impulse Space has a contract with SES to transport a satellite from LEO to GEO using Helios in 2027.
“We were thrilled to get that SES deal across the finish line,” said Romo, highlighting SES's history of adopting new technologies.
Impulse Space is also pursuing opportunities with NASA, including commercial transportation services to the moon and Mars. While production expansion is a priority, specific annual production targets haven't yet been set. The company, currently employing 225-250 people, plans significant hiring, aiming for approximately 350 employees within the next year.
A substantial portion of the funding will be dedicated to research and development, particularly in electric propulsion systems. Romo emphasizes a focus on reliable, robust, and cost-effective approaches, steering clear of experimental technologies. “I don’t think you’ll see us do anything that sounds like a science project. I think you’ll see us do things that are, you know, tried-and-true traditional engineering, but then try and do it in an extremely reliable, robust and low-cost way.”