Venus Aerospace raises $91 million to scale rocket engine technology
Venus Aerospace, a Houston-based propulsion startup developing rocket engines for hypersonic flight and space transportation, said July 8 it raised $91 million in a Series B funding round to expand development and production of its rotating detonation rocket engine technology.
The financing was led by Houston-based venture capital firm Mercury Fund, with participation from Lockheed Martin Ventures, MESH, PEAK6, Draper Associates, Starboard Star Venture Capital, Green Sands Equity and other new and existing strategic and institutional investors.
The company said the new capital will fund engine development and manufacturing as it seeks to scale production of its rotating detonation rocket engine (RDRE) from flight testing toward operational deployment.
An RDRE generates thrust using a continuously rotating detonation wave rather than conventional combustion, a design that could improve engine efficiency and performance for applications ranging from hypersonic vehicles to space transportation.
Venus said its engine, which is built from 3D-printed components and standard materials, is designed for domestic manufacturing. The reusable, throttleable engine is intended for a range of missions, including munitions, space launch vehicles, orbital transfer vehicles and lunar landers, according to the company.
The funding follows a series of milestones for the startup, including the recent appointment of former NASA Deputy Administrator Pam Melroy to its board of directors.
In May, Venus completed what it said was the first U.S. flight test of a 2,000-pound-thrust rotating detonation rocket engine, launching the engine aboard a small rocket from Spaceport America in New Mexico.
The company has attracted backing from defense and aerospace investors as the Pentagon and industry pursue next-generation propulsion technologies for hypersonic weapons. Lockheed Martin Ventures, the venture investment arm of Lockheed Martin, announced a strategic investment in Venus last year.
Founded in 2020, Venus Aerospace was also among five companies selected by the Texas Space Commission for state support, receiving $3.9 million to build a rocket engine test facility in Houston.
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