Venus Aerospace Secures $90M to Develop Hypersonic Rocket Engine
Venus Aerospace, a US-based company, has raised $90 million in a Series B funding round to develop its Rotating Detonation Rocket Engine (RDRE) for hypersonic weapons and space vehicles. The company will use the funds to test and develop specific vehicle designs with potential customers, shifting its focus from passenger travel to defense and space missions.
Key points
- Venus Aerospace, founded in 2020 by Sassie and Andrew Duggleby, has raised $90 million in a Series B funding round led by Mercury Fund.
- The company will use the funds to develop its Rotating Detonation Rocket Engine (RDRE) for hypersonic weapons and space vehicles.
- Venus Aerospace previously focused on developing clean-flying hypersonic jets for passenger travel but shifted its focus after successfully demonstrating the RDRE last year.
- The company plans to replace solid rocket motors in missiles with its RDRE and develop high-speed space vehicles for the military.
- Lockheed Martin Ventures and other investors participated in the funding round.
Venus Aerospace, a US-based company, has secured $90 million in a Series B funding round to develop its Rotating Detonation Rocket Engine (RDRE) for hypersonic weapons and space vehicles. Founded in 2020 by Sassie and Andrew Duggleby, the company had previously focused on developing clean-flying hypersonic jets for passenger travel.
However, after successfully demonstrating the RDRE last year, Venus Aerospace shifted its focus to defense and space missions. The company plans to replace solid rocket motors in missiles with its RDRE and develop high-speed space vehicles for the military.
The $90 million funding round was led by Mercury Fund and saw participation from Lockheed Martin Ventures and other investors. The funds will be used to test and develop specific vehicle designs with potential customers.
Venus Aerospace's RDRE is an ultra-efficient way to hurl stuff into the sky, and the company believes it has the potential to revolutionize the defense and space industries.
Sources
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