What's Happening?
Ursa Major has successfully closed a $100 million Series E funding round, which will enable the propulsion company to scale its manufacturing capabilities for hypersonic and in-space propulsion, as well as solid-rocket-motor technology. The funding round was
led by Eclipse, with participation from Woodline Partners, Principia Growth, XN, Alsop Louie Partners, and others. Additionally, Ursa Major announced $50 million in debt funding commitments. The company has secured bookings totaling $115 million for the first three quarters of the year, including contracts with the Department of Defense, Air Force Research Laboratory, Stratolaunch, and BAE Systems.
Why It's Important?
The substantial funding secured by Ursa Major underscores the growing interest and investment in advanced propulsion technologies, particularly in the defense sector. By scaling its manufacturing capabilities, Ursa Major is poised to meet increasing demand for hypersonic systems and solid rocket motors, which are critical for national defense and space exploration. This funding round reflects the broader trend of significant financial investments in the aerospace industry, highlighting the strategic importance of propulsion technology in maintaining competitive advantage in defense and space sectors.
