Dawn raises $25M to advance reusable space transportation
This Series B funding will directly finance New Zealand-Dutch company Dawn Aerospace’s global rollout, scaling commercial and operational teams in the US and Europe to support its expanding international customer base.
Dawn Aerospace has announced the close of its Series B funding round, raising USD 25 million at a USD 195 million post-money valuation. The round was led by US-based VC, Balerion Space Ventures.
Since its Series A in 2022, the New Zealand-Dutch company has become a leading provider of non-toxic chemical propulsion worldwide with 200 thrusters in space on more than 50 satellites. Dawn has also flown supersonic with the Aurora suborbital spaceplane.
Commercially, revenue has grown from less than USD 3 million in FY22 to well over USD 15 million, Dawn Aerospace said.
“As a cash-flow positive company, raising capital is about accelerating the growth of programs we have extremely high conviction in, and that our customers are desperate for,” said Stefan Powell, CEO of Dawn Aerospace.
Dawn’s technologies now support over two dozen missions, predominantly for US, European, and Japanese customers, such as satellite constellations and lunar programs.
“Dawn is doing what few in this category have: building real commercial revenue and a spiral path from in-space propulsion and refueling, to a hypersonic spaceplane, to aircraft-like payload delivery to orbit, all with extraordinary capital efficiency,” said Dan Wallman, Partner at Balerion Space Ventures. “As the US and its closest allies build joint capability in space and hypersonics, the West needs partners who can deliver reusable, responsive access across the air and space domain. Dawn is one of them.”
This Series B funding will directly finance Dawn’s global rollout, scaling commercial and operational teams in the US and Europe to support its expanding international customer base, the company said.
The Series B was backed by a global syndicate of investors. Participants include Mana Ventures (US), ANA Future Frontier Fund (general partner: Global Brain Corporation) (JP), Green Eight Capital (US), Seven Peak Ventures (US), NZVC (NZ), Alpha Funds (US), Gaingels (US), Crosscourt (US), and individual investors including Tim Ferriss, Michael Hohenester, Markus Hildinger, and Yishan Wong, as well as existing investors Icehouse Ventures, Aera Climate and Frontier Fund, GD1, and Shasta Ventures.
