spacetoday.net: Rocket Lab raises $140 million

Rocket Lab raises $140 million

Posted: Sun, Nov 18, 2018, 8:16 AM ET (1316 GMT)
Rocket Lab Electron launch, January 2018 (Rocket Lab)

Rocket Lab announced Thursday it has closed a $140 million funding round. The Series E round was led by Future Fund, Australia's sovereign wealth fund, with several other existing investors participating. One new investor, Accident Compensation Corporation of New Zealand, joined the round. Rocket Lab has now raised more than $288 million to date, and the company said this round values the company higher than the "$1-billion-plus" valuation of its previous funding round in March 2017. The company plans to use the funding to expand its capabilities to meet a goal of weekly launches, while also investing in three unspecified research and development projects.