Astra Secures $2.7 Million In Additional Financing
Astra Space, a leading pureplay commercial space company, today announced that it has secured $2.7 million in additional financing from existing investors JMCM Holdings LLC and Sherpa Ventures Fund II, as well as company co-founders Chris Kemp and Adam London. The financing was completed as a subsequent financing to the $13.4 million in initial financing that Astra secured from JMCM Holdings LLC and Sherpa Ventures Fund II on November 6, 2023.
The proceeds from the financing will be used to support Astra's ongoing development of its launch vehicle and spacecraft propulsion systems. The company is also working to arrange a long-term financing deal that could take the company private.
Astra is a leading developer of small launch vehicles, designed to provide low-cost and reliable access to space for small satellites. The company's first launch vehicle, Rocket 3.3, has undergone several test flights and is expected to make its first commercial flight in 2024.
The additional financing is a vote of confidence in Astra's technology and its potential to disrupt the traditional space launch industry. The company is well-positioned to capitalize on the growing demand for small satellite launches and the increasing interest in commercial space exploration.
About Astra
Astra is a leading pureplay commercial space company dedicated to making space more accessible and affordable. The company is developing a family of small launch vehicles designed to deliver small satellites into orbit at a fraction of the cost of traditional launch vehicles. Astra is also developing spacecraft propulsion systems for a variety of applications, including satellite maneuvering, orbit raising, and deep space exploration.
About JMCM Holdings LLC
JMCM Holdings LLC is a private investment firm focused on investing in innovative technologies with the potential to transform industries. The firm has a strong track record of success in the aerospace and defense industries.
About Sherpa Ventures Fund II
Sherpa Ventures Fund II is a venture capital firm focused on investing in early-stage companies with the potential to become disruptive leaders in their respective markets. The firm has a particular focus on companies in the aerospace, defense, and technology industries.
About Chris Kemp
Chris Kemp is the co-founder and CEO of Astra. He is a seasoned entrepreneur with a deep understanding of the aerospace industry.
About Adam London
Adam London is the co-founder and CTO of Astra. He is a leading expert in spacecraft propulsion systems.
