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Thursday, Jun 8, 2023

XCOR Announces $14.2 Million Funding Round

XCOR Aerospace announced on Tuesday receiving $14.2 million in financing led by a group of Dutch investors to fund development of its suborbital space plane. The Mojave company will add two new members to its board from commercial space flight provider Space Expedition Corp., the Dutch investor based in Amsterdam. The funding round includes existing investors, Silicon alley entrepreneurs and early-stage investors. Jeff Greason, founder and chief executive of XCOR, said the Series B funding round should signal that XCOR is making progress getting its Lynx spaceplane into commercial service for paying customers. “This investment will allow us to accelerate and run in parallel several final developments in the critical path to first flight,” The two-seat reusable Lynx is powered by kerosene and liquid oxygen propellants and can take a pilot and passenger to sub-orbital altitude and return to Earth much like an airplane. The craft can also be used to carry small payloads containing scientific equipment or tests. It last announced a $5 million funding round in 2012.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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