“Venture Capital Cash Fuels Space Startup Dreams” – Bloomberg

May 15, 2024 – Aashna Shah / Bloomberg – Many VC firms, like Balerion, are drawn to startups created by former employees of SpaceX, Blue Origin or Anduril Industries, a defense technology firm.

Andy Lapsa, 41, worked at Blue Origin for over a decade. Seeing that more firms wanted to transport goods to and from space, he left his job in 2019 to start Stoke Space Technologies to build a reusable rocket. 

With a commercial business case and an expanding pool of workers with space experience, “I saw a huge opportunity to be able to put those three elements together and create what’s hopefully a transformational business,” he says. In October, Stoke announced a new Series B investment that more than doubled the company’s total funding to $175 million. 

Continue reading the article: https://www.bloomberg.com/news/newsletters/2024-05-15/space-startups-fueled-by-venture-capital-investments