Agile Space Industries raises $13 million to expand AM production

Lockheed Martin Ventures participated in Agile Space Industries’ latest $13 million Seed round. Lockheed Martin Ventures’ investment marks the closing of the round, which was led by Caruso Ventures and included Greater Colorado Venture Fund (GCVF), CORI Innovation Fund and Greenline Ventures. Agile, which did not disclose the valuation of the round, has now raised in excess of $18 million.

Agile Space Industries is delivering on the vision of bringing a new generation of in-space chemical propulsion products and technologies to the space industry. The company recently announced the qualification of its first product, the A110 thruster, and is now building dozens of flight units that will be used by multiple customers to land on the Moon.

Chris Pearson, Agile’s CEO, said “Since 2020, revenues have grown more than 70% annually as we emerged as the global leader of in-house metal additive manufacturing and hypergolic propulsion test capabilities. Our customers benefit from our novel designs that push performance while dramatically reducing development and qualification lead times”.

“Lockheed Martin is at the forefront of technological advancement and innovation in today’s evolving space economy,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures. “Our investment in Agile Space Industries underscores our commitment to the development of breakthrough technologies that bring us closer to discovering more of space.”

Seed-2 funding will support continued business expansion such as raising the capacity of Agile’s industry-leading chemical propulsion test infrastructure. Towards the end of this year, Agile Space Industries expects to launch a Series-A investment round to allow a larger scale-up of production operations required to meet customer demand.

“The Greater Colorado Venture Fund (GCVF) is incredibly excited about Lockheed Martin Ventures’ investment into Agile Space Industries and the revolutionary work that Agile is performing,” said Cory Finney, Fund Manager for GCVF. “The success of the wider Seed-2 round will allow the company to continue to attract world-class talent to its rural community after hiring more than 30 people in 2022.”

“Caruso Ventures is proud to back the Agile Space Industries team as it designs and delivers unique high-performance chemical propulsion products for traditional and non-traditional space customers,” added Dan Caruso, Agile Board Member and Managing Director of Caruso Ventures.