Space News: Firefly Aerospace raises $75 million Series A round
by Jeff Foust WASHINGTON — Firefly Aerospace, nearing the first launch of its Alpha rocket, announced May 4 it raised $75 million in a Series A round that values the company at more than $1 billion. The company said the Series A round was led by DADA Holdings, with participating from Astera Institute, Canon Ball LLC, Reuben Brothers Limited, SMS Capital Investment LLC, Raven One Ventures, The XBTO Ventures and other investors. In addition, Noosphere Ventures, Firefly’s largest investor, sold $100 million of its holdings to some of the Series A investors through secondary transactions to satisfy what the company called “overwhelming demand” in the funding round. In January, Tom Markusic, chief executive of Firefly, said the company was looking to raise $350 million to fund the ramp-up of its operations over the next five years and development of a larger, medium-class launch vehicle. That remains the goal, he said in a recent interview, but the company decided to split the funding...