K2 Space has completed a $500 million Series D funding around that now values the company close to $7 billion. With this latest round, K2 has cumulatively has raised over $1 billion in capital and secured over $1 billion in signed commercial and government contracts. The company announced the latest funding round, July 30.
Kleiner Perkins and ICONIQ led the round, with participation from CapitalG, Lightspeed, Altimeter, Spark Capital, Sands Capital, ARK Invest, T. Rowe Price Associates, and other existing investors.
K2 Space has been a company on the rise in recent times. For example, it won a major contract with SES where it will provide an initial tranche of 30 satellites to the operator. It will also play a key role in the U.S.’s much vaunted Golden Dome project. Here it will work on the space-based interceptor missile defense program, in which K2 Space will provide satellites to its program partner, Anduril.
“When my brother Neel and I started K2 four years ago, we took a contrarian bet that building bigger would be the future for exploring and developing space. This latest round validates that thesis and gives us the capital to accelerate scaling as we prepare to build up to 100 large satellites per year. We’ve carefully planned and positioned our infrastructure, supply chain, and talent pipeline to meet the significant production demand from our customers,” Karan Kunjur, Co-Founder and CEO, K2 Space said in a statement.
