X-Bow Systems, Leader in 3D Printed Solid Rocket Engines, Raises $27M in Series A
Press release from: X-Bow Systems
Posted: Tuesday April 26th 2022
X-Bow Systems Inc. (X-Bow), a U.S.-based space technology company that applies breakthrough additive manufacturing techniques to solid-state rocket power generation, announced today that it has closed a Series A investment round of $27 million. The round ends before X-Bow’s static fire test of its 32″ diameter ‘Ballesta’ solid rocket engine and subsequent launch at White Sands Missile Range, NM This will be the first large-scale engine designed and tested by a non-legacy systems integrator vendor for over 30 years, bringing innovation to the industry from a modern technology competitor.
The Series A round was co-led by Crosslink Capital and Razor’s Edge Ventures, with additional participation from Lockheed Martin Ventures and Broom Ventures. X-Bow’s fundraising team was led by its co-founder and CRO, Maureen Gannon. The capital raise comes at a time of significant growth for X-Bow as the company advances its patent-pending additive manufacturing technology for solid rocket power and expands its solid rocket motor product portfolio. X-Bow is poised to disrupt the solid rocket motor industry with its affordable large-scale motor designs and modular supercharger vehicle architectures, which are already under development with customers in US communities across the national security, defense and space who see X-Bow additive manufacturing as a transformational technology addressing their unmet needs. The new funding will further accelerate customer support, grow the team and invest in the company’s next generation of product offerings.
“We are proud of the support we have received from our investors and appreciate the confidence they have shown in the X-Bow team, its groundbreaking technology and innovative approach to solid rocket motor development. Raising a solid tower with these high caliber investors allows us to scale our rapid growth and accelerate our plans to disrupt a critical industry,” said Jason Hundley, CEO and Founder of X-Bow. “I am also very fortunate to be working with an exceptional team. here at X-Bow making breakthrough achievements in the industry.”
“X-Bow is the perfect combination of experienced leadership and truly innovative additive manufacturing technology for energy,” said Matt Bigge, Crosslink Capital Partner. “They are the indispensable changemaker, ready to disrupt the energy market with their disruptive technologies. Crosslink invested in X-Bow because of its ability to catalyze critical evolution in the national security, defense and commercial space technologies.”
“The X-Bow team brings a unique perspective and a clear view of the gaps within the traditional ecosystem of solid rocket motor manufacturers. The company’s proprietary additive manufacturing approach to energetics, motors and solid rocket architectures will, for the first time, allow for agile, cost-effective solutions to be brought to a market that has always thought of product development in terms of years of development time and tens or hundreds of millions of dollars by product,” said Mark Spoto, co-founder and managing partner of Razor’s Edge Ventures. “We invest in great leadership teams with differentiated products that solve big and tough problems in the national security and security markets. commercial enterprises and we are extremely excited to partner with the X-Bow team to help them accelerate their growth and product expansion.”
ABOUT X-BOW SYSTEMS
X-Bow Systems (X-Bow) is disrupting the aerospace industry with innovative and cost-effective additively manufactured energy products for the solid rocket engine and launch vehicle market. X-Bow also designs and builds a suite of modular solid rocket motors and small launch vehicles for orbital and suborbital launch services. X-Bow is led by CEO Jason Hundley, President Mark Kaufman, CTO Max Vozoff, CFO Yasmin Seyal, CRO Maureen Gannon, General Counsel John Leary and a growing team of seasoned industry veterans and new space entrepreneurs. Based in Albuquerque, New Mexico, X-Bow also has operations in California, Alabama, Colorado, Texas and Washington DC. X-Bow actively recruits talented and determined people to join its team. For more information visit www.xbowsystems.com
ABOUT CROSSLINK CAPITAL
Crosslink Capital, founded in 1989, is based in Menlo Park and focuses on early-stage venture capital investing, supporting entrepreneurs building disruptive and market-transforming businesses. Crosslink has raised nine venture capital funds and manages over $3.6 billion. For more information visit www.crosslinkcapital.com
ABOUT RAZOR’S EDGE VENTURES
Razor’s Edge is a multi-stage venture capital firm that invests in technology companies solving significant challenges in national security and high-growth commercial markets. In addition to providing capital to accelerate the pace of innovation, Razor’s Edge provides hands-on, hands-on operational support based on decades of collective experience in the national security industry. The Razor’s Edge team works tirelessly to identify disruptive technologies and capabilities that can solve mission-critical needs and deliver them to government and commercial customers who need them. For more information visit www.razorsvc.com
ABOUT LOCKHEED MARTIN VENTURES
Lockheed Martin Ventures makes strategic investments in companies that develop advanced technologies in core businesses and new markets important to Lockheed Martin.
More than a source of capital, Lockheed Martin Ventures offers portfolio companies access to our world-class engineering talent, cutting-edge technologies, research, and access to international business relationships and the supply chain. company supply. For more information visit www.lockheedmartinventures.com
Tel: (505) 772-9577
Email: [email protected]
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