INSUBCONTINENT EXCLUSIVE:
financing for Momentus, which sells in-space shuttle services to move satellites between orbits.The company joins other satellite and
telecommunications technology vendors like Akash Systems, which raised $14.5 million for its advanced telecommunications chipsets used in
satellites, that have raised money from investors looking beyond basic launch services.A motley assortment of venture capital firms, hedge
funds, family offices and other institutional investors came in to finance the new round of funding for Momentus including: Y Combinator,
the Lerner Family, the University of Wyoming Foundation, Quiet Capital, Mountain Nazca, ACE - Co., Liquid 2 Ventures and Drake Management
The financing was led by Prime Movers Lab.With $34 million in funding to date, Momentus said it will use its new cash to continue the
development of its two shuttles designed to move payloads between different orbits
Sloss, founder and general partner at Prime Movers Lab, in a statement
get on a vehicle, so companies tend to spread the wealth.The money will also pay for building in-house research and development for the
The company expects to generate its first revenue next year, as well, Kokorich said.The company has three flights scheduled for 2020.
