Impulse Space has raised $500 million in a Series D round, with the company planning to use the money to expand its workforce and build additional spacecraft.
The round was led by 137 Ventures and BANNER VC. Existing investors including Founders Fund, Lux Capital, and Linse Capital also participated.
The company said it expects to hire as many as 200 employees.
Founded by former SpaceX propulsion chief Tom Mueller, Impulse Space develops spacecraft designed to maneuver satellites after launch.
Investor interest in space and defense companies has increased as the U.S. government boosts spending on national security programs and SpaceX moves toward a planned initial public offering.
Focus on in-space mobility
Impulse specializes in moving spacecraft after they reach orbit.
Its current products include:
- Mira, a maneuverable spacecraft aimed at customers in the U.S. Space Force.
- Helios, a vehicle designed to transport satellites to higher orbits after deployment closer to Earth.
President and Chief Operating Officer Eric Romo said the new funding will support additional vehicle development and testing.
The company is also putting a strong emphasis on hiring at a time when competition for aerospace engineers remains intense.
AI still has limits
Romo said software teams at Impulse are using AI coding tools.
But he argued that artificial intelligence has not yet reached the point where it can replace hands-on engineering work.
Romo joined SpaceX in 2003 as the company’s 13th employee. One of his early responsibilities involved running computer simulations of rocket engines.
“I considered it success if I got within 20% of the right answer, because the simulations were just not that good,” Romo told TechCrunch.
“They’ve improved, but they’ve not improved that much, and so there’s not really any substitute for designing the thing, analyzing the thing, building it, and then getting it on the test stand.”
He said hardware design presents a different challenge for AI because much of the most valuable engineering knowledge is not publicly available.
“If you want to go, say, find the best designs for a turbo pump seal package in the world, you’re not going to find those online,” Romo said.
Growth beyond propulsion
Impulse originally focused on propulsion systems.
As the company expanded into spacecraft development, it added engineers specializing in vehicle structures and flight computers.
The startup recently opened an office in Colorado. Romo said aerospace workers now have more choices than in the past, with engineering jobs available in places such as:
- Seattle
- Denver
- Texas
Preparing the next Mira mission
Impulse is preparing another launch of its Mira spacecraft.
The vehicle completed its third flight late last year.
That mission encountered a navigation problem, causing the spacecraft to use much of its propellant earlier than planned.
Romo said a new Mira mission is expected to launch before the end of the year.
TL;DR:
Impulse Space has raised $500 million in a Series D round and plans to hire up to 200 employees. The company, founded by Tom Mueller, is expanding spacecraft development and preparing another Mira mission after a navigation issue affected its previous flight.
AI summary:
- Impulse Space raised $500 million in Series D funding.
- The company plans to hire up to 200 employees.
- Its products include the Mira spacecraft and the Helios transfer vehicle.
- COO Eric Romo said AI cannot yet replace physical engineering work.
- Another Mira mission is planned before year-end.
