Founded in 2016, the startup uses 3D printing techniques to manufacture motors and propellant formulations. X-Bow Systems claims that its modular approach means they can build and configure launch vehicles quickly and cost-effectively.
Modular Approach for Efficient Launch Vehicle Development
In addition, the company supports small satellite launch markets and has contracts from various US government agencies such as the Department of Defence. The round was led by Lockheed Martin. The two companies have also entered into an agreement allowing X-Bow Systems to accelerate as a new independent supplier of SRMs and other services for their programs.
Lockheed Martin Partnership Fuels Growth
This total round included investment from Razor's Edge Ventures, Crosslink Capital, Lockheed Martin, Balerion Space Ventures, Boeing Ventures, Bravo Victor Venture Capital, Upsher Management Company, Capital Factory Ventures, Arkenstone Capital, and Event Horizon Capital.
Investment Round and Strategic Partnerships
"We have built a highly respected 'deep hardware technology' company with the current Series A and B investments from our venture partners," said Jason Hundley, chief executive officer and founder of X-Bow Systems. "This additional investment and our ongoing partnership with Lockheed Martin position us for significant growth. We are expanding our production capacity, accelerating our innovation efforts, and strengthening our role as a critical independent supplier within the defence industrial base."
Future Growth and Expansion Plans
"We are pleased to continue our investment in X-Bow Systems, a company developing SRM technology that aligns with our strategy to support innovative solutions that enhance our nation's security," said Chris Moran, vice president and general manager of Lockheed Martin Ventures. "Our follow-on investment in X-Bow Systems underscores Lockheed Martin's dedication to advancing the aerospace and defence industry."
