SpinLaunch raises $11M but hoped to raise much more, source says

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Here’s a structured summary of the information you provided about SpinLaunch:

Startup Information

Funding Information

  • Current Round: $11.5 million
  • Planned Round: $25 million
  • Last Round: $71 million Series B
  • Date of Last Round: 2022

Fundraising Details

  • Explored Round: $350 million
  • Valuation for Explored Round: $2 billion
  • CEO Comments: David Wrenn indicated that the $350 million target was "highly inaccurate and misleading."

Investors

  • Specific investors are not mentioned in the provided text.

Founders

  • Founder: Jonathan Yaney (previous CEO)
  • Current CEO: David Wrenn (appointed in March 2023)

Additional Notes

  • SpinLaunch is developing a kinetic launch system as an alternative to traditional rockets.
  • The company has conducted 10 suborbital tests at Spaceport America, New Mexico.
  • Plans include a satellite constellation for global broadband service filed with the FCC.

If you need any more details or insights, feel free to ask!

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2024-12-03 16:32:37

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