Ukrainian-American Firefly Aerospace, a leading provider of economical and dependable launch vehicles, spacecraft, and in-space services, announced the successful completion of its Series A financing.
The USD 75m Series A, which valued the company at greater than USD 1bn, was led by DADA Holdings, with participation by Astera Institute, Canon Ball LLC, Reuben Brothers Limited, SMS Capital Investment LLC, Raven One Ventures, The XBTO Ventures and other investors. The Series A capital raise team was led by Darren Ma, Firefly CFO. Investor outreach was led by Eric Salwan, Firefly Co-founder and Director of Commercial Business Development. Jed McCaleb, representing Astera Institute, will join Firefly’s Board of Directors.
In an effort to satisfy the overwhelming demand in the Series A round, Firefly’s seed investor, Noosphere Ventures, sold approximately USD 100m of its holdings of Firefly equity to certain Series A participants and other investors through secondary transactions. Following the forthcoming launch of its flagship Alpha small launch vehicle, Firefly intends to raise an additional USD 300m later in 2021 to fund its ambitious growth plans through 2025.
Firefly’s CEO Dr. Tom Markusic stated, “It is gratifying to see such strong investor interest that far exceeded our near-term funding goal of USD 75m. […] With our recent major contract wins and the arrival of new, strong financial partners, 2021 is proving to be a breakout year for Firefly.”
Aerospace firm Firefly was founded by Ukrainian Max Polyakov. It is headquartered in Austin, Texas, and its R&D center is located in Ukrainian Dnipro.