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Firefly Aerospace raises $75 million
Posted: Sat, May 8, 2021, 11:04 AM ET (1504 GMT)
Firefly Aerospace raised a $75 million Series A round as it nears its first launch. The company raised the round from a group of investors that valued the company at more than $1 billion. Noosphere Ventures, Firefly's largest investor, also sold $100 million of its stake in Firefly to some of the Series A investors in a separate, secondary transaction. Firefly says the funding will be sufficient to get the company through a number of near-term milestones, including the first launch of its Alpha rocket expected in the next couple of months. Firefly plans to raise a larger round, estimated at $300 million, as soon as later this year.
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