Aidan Daly
K2 Space, an aerospace and defense company focused on developing large satellites, announced completing its Series B funding round and raising $110 million to boost mass production of its multi-orbit, high-power satellite platform.
Karan Kunjur, CEO of K2 Space, said in a press release Thursday, “Advanced space capabilities can’t be built on small, low-powered platforms, but higher capability satellites have been far too expensive for most proliferated applications. This is the gap K2 fills – making highly capable, powerful satellites available to a much broader market.”
“And because our satellites are designed to proliferate in higher orbits, our constellations require fewer satellites and fewer launches to provide global coverage,” Kunjur added.
K2 Space has designed a high-power, high-payload mass satellite platform. Its solution aims to address the increasing demand for proliferated space applications.
Lightspeed Venture Partners and Altimeter Capital co-led the funding round with participation from existing investors Alpine Space Ventures, First Round Capital, and others. Connor Love, a partner at Lightspeed Venture Partners, added, “As the demands of space operations evolve, so too must the capabilities of satellite builders.”
Erik Kriessmann, a partner at Altimeter Capital, said, “We are at the dawn of a Space Supercycle where new launch vehicles and reduced-cost, reliable access to space are transforming the entire market. K2 Space is taking advantage of this paradigm shift by mass-manufacturing multi-mission satellites that deliver unprecedented capabilities and enable multi-orbit constellations.”
The company has raised $180 million since its founding in 2022 and won over $50 million in government and commercial contracts. In December 2024, it secured a $60 million contract with the U.S. Space Force for Gravitas, its groundbreaking satellite mission. Also, the Series B round coincides with the opening of K2 Space’s new 180,000-square-foot factory in Torrance, California.
K2 Space plans to use the fresh funds to scale production, hire talent, and bring additional components in-house. According to Kunjur, the company has attracted interest from commercial and national security customers. “The Series B is a vote of confidence from our investors, and importantly, allows us to more quickly address what is a critical gap in the market,” he said.
