Insider Brief:
- X-Bow Systems has raised over $70 million in a Series B funding round to accelerate the growth of its hypersonic vehicles and solid rocket motor programs.
- The funding round was led by Razor’s Edge with participation from Lockheed Martin Ventures, Boeing Ventures, Crosslink Capital, and Balerion Space Ventures.
- The new funding will cement X-Bow’s position as the nation’s third supplier of solid rocket motors.
X-Bow Systems Inc., a key player in advanced solid rocket motor (SRM) and hypersonic technologies, announced it has raised over $70 million in its Series B financing. This funding will speed up the growth of its hypersonic vehicles and solid rocket motor programs. It will also support the completion of X-Bow’s new gigafactory in Luling, Texas, and the expansion of its R&D facilities in New Mexico to address critical industrial and defense needs.
Razor’s Edge, a growth equity firm focused on national security technology, led the funding round with participation from Lockheed Martin Ventures, Boeing Ventures, Crosslink Capital, and Balerion Space Ventures. Union Square Advisors LLC acted as the exclusive financial advisor for this transaction.
Mark Spoto, co-founder and managing partner at Razor’s Edge and X-Bow board member, highlighted the urgency of addressing gaps in the SRM industrial base, which recent conflicts like the one in Ukraine have exposed. He praised X-Bow’s proactive approach in identifying these gaps and developing a range of SRM and energetics products. Spoto believes the company’s proprietary manufacturing technologies and market insights position it to significantly impact national security.
The new funding will cement X-Bow’s position as the nation’s third supplier of solid rocket motors. It will help the company continue innovating and providing cost-effective solutions for SRMs, hypersonics, and related markets.
Jason Hundley, CEO and founder of X-Bow, noted the company’s growth and success over the past year, including securing multiple contracts for SRMs, energetics, and launch services. He attributed this success to the team’s expertise and advanced manufacturing techniques.
Image credit: X-Bow Systems
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