Insider Brief
- Agile Space has completed a fully subscribed financing round led by Lockheed Martin Ventures.
- The successful round sets the stage for potential matching funding from the U.S. Air Force’s AFWERX program as the company works to expand its infrastructure and meet growing market demands.
- Agile has experienced a sharp rise in bookings and revenue, with growth exceeding 90% in bookings and 40% in revenue between 2022 and 2023.
Agile Space has successfully completed a fully subscribed financing round, with Lockheed Martin Ventures (LMV) leading the investment. The funding round sets the stage for potential matching funding from the U.S. Air Force’s AFWERX program, which aims to accelerate Agile’s development of its Mobile Payload Processing Center (MPPC).
Agile has already begun using the fresh investment to hire additional staff and expand its infrastructure. The company has experienced a sharp rise in bookings and revenue, with growth exceeding 90% in bookings and 40% in revenue between 2022 and 2023. The momentum accelerated in 2024, driven by demand for Agile’s chemical propulsion thrusters and tanks across civil, commercial, and national security space projects.
Chris Pearson, CEO of Agile, emphasized the company’s focus on execution, citing the need to scale production and infrastructure to meet its expected commercial backlog. “We need to continue to scale-up to meet the needs of our customers. Our fundraising activities are key to staying ahead of our growth needs,” Pearson said.
Lockheed Martin Ventures’ participation in this round marks its second investment in Agile. Chris Moran, vice president and general manager of LMV, stated, “Our continued investment in Agile demonstrates our dedication to accelerating groundbreaking technologies that not only meet a critical need in the industry but also support U.S. space programs and the Pentagon.”
Veteran Ventures Capital (VVC) and BOKA Capital were new investors in the round. Joshua Weed, VVC’s General Partner, noted that Agile aligns with the firm’s strategy of investing in dual-use technologies that support national security and commercial space efforts. This investment and VVC’s existing stake in propulsion technology company Phase Four strengthens its portfolio across electric and chemical propulsion technologies.
Looking ahead, Agile plans to focus on product development and operational scaling. The company aims to continue advancing its technology and infrastructure to meet the increasing demands of its diverse customer base.
Image credit: Agile Space
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