K2 Space Secures $110 Million Series B Funding to Expand Satellite Production

K2 Space, a pioneering company in the satellite technology sector, has recently announced a significant milestone by successfully raising $110 million in a Series B funding round. This capital infusion is poised to enable K2 Space to ramp up mass production of its advanced multi-orbit satellite platform. The funding was co-led by notable investors such as Lightspeed Venture Partners and Altimeter Capital, alongside contributions from existing investors including Alpine Space Ventures and First Round Capital.

This funding comes at an exciting time for K2 Space, coinciding with the grand opening of its expansive 180,000 square foot manufacturing facility located in Torrance, California. The facility will play a crucial role in scaling the production of their high-powered satellite systems, which are designed to address the growing demand for enhanced satellite connectivity and functionality.

As the company advances, it has also achieved a significant technical milestone by successfully completing its first in-space demonstration mission. This mission involved testing various critical components that were developed in-house, marking a pivotal step in validating the capabilities of their satellite technology.

Transforming Satellite Connectivity

K2 Space is uniquely positioned to transform the economics of satellite operations. Their designed satellite platform is not only resilient but also high powered, making it distinctively suitable for a range of proliferated space applications. The cost-effective nature of their solution allows organizations to benefit from high throughput and extensive computational capabilities without sacrificing performance.

Karan Kunjur, the CEO of K2 Space, emphasized the necessity of advancing satellite capabilities, stating, “Advanced space capabilities can’t be built on small, low-powered platforms, but higher capability satellites have been far too expensive for most proliferated applications. This is the gap K2 fills—making highly capable, powerful satellites available to a much broader market.” By focusing on higher orbits, K2's design reduces the total number of satellites and launches required to ensure global coverage.

The Gravitas Mission

K2 Space also recently secured a government contract for its inaugural mission, dubbed “Gravitas.” This mission aims to showcase the satellite system’s ability to function effectively in the high radiation environments characteristic of medium-earth orbit (MEO). Importantly, it incorporates a unique low-earth orbit (LEO) to MEO electric propulsion orbit raise—a first of its kind.

The versatility of the satellite’s payload deck enables it to undertake a wide array of national security and commercial applications, addressing critical mission needs while opening up further opportunities for diverse space operations. As Erik Kriessmann from Altimeter Capital highlighted, “We are at the dawn of a Space Supercycle, where new launch vehicles and reduced-cost, reliable access to space are transforming the entire market.”

Scaling Operations Going Forward

Entering 2025, K2 Space is riding the momentum from a remarkably successful 2024 where it expanded its workforce from 25 to 90 full-time employees. It not only secured new government and commercial business contracts but also successfully activated and operated all hardware launched during its first in-space mission.

With such rapid growth and innovation, Karan Kunjur expressed the keenness of both commercial and national security clients in K2’s satellite platform. He noted, “Customers tell us that the platform we’ve designed is unique, differentiated, and unlocks a multitude of pressing applications for their organizations.” The Series B funding is not just a financial boost but also a strong vote of confidence from investors, allowing K2 Space to move more swiftly in filling a crucial gap in the satellite market.

About K2 Space

Founded by a talented team of former SpaceX engineers, K2 Space is on a mission to redefine satellite manufacturing with its low-cost, high-powered satellite bus platform. Capable of accommodating up to ten satellites per launch vehicle, their innovative technology is designed to endure the rigorous conditions of MEO and GEO, establishing K2 Space as the go-to choice for proliferated orbital systems. With $180 million raised to date, K2 Space is rapidly evolving and expanding its influence in the satellite industry.