Launch Vehicle Developer Firefly Aerospace Looks to Raise $350M in Funding Round; Tom Markusic Quoted

Firefly Aerospace plans to raise $350 million in funds to ramp up production, advance long-term growth initiatives and further develop a larger launch vehicle, SpaceNews reported Wednesday.

Tom Markusic, CEO of Firefly Aerospace, said the company would use $125 million of the funds to support “product enhancements” such as tooling and facilities to scale up the production of its launch vehicles.

The rest of the $350 million would support the company’s growth initiatives, including the development of a medium-class launch vehicle, dubbed Beta, that is expected to launch by early 2024.

Markusic said Tuesday during an IPO Edge webinar the maiden launch of its Alpha rocket from  Vandenberg Air Force Base in California will be in “a few short weeks.”