ABL Space Systems is a developer of low-cost vehicles for the small satellite industry. Besides launching satellites, the company launches systems technology development with the usage of CNC and 3D printing.
The funding round Series B was led by T. Rowe Price Associates. Along with them Fidelity Management & Research LLC and one another investor took part in the round. The funds raised are to spend on the production of the RS1 satellite, which is close to the launch.
ABL Space Systems, based in El Segundo, California, was founded by Dan Piemont and Harry O’Hanley. They are former Space X and Morgan Stanley employees. “Our investors have observed the tremendous demand for RS1 and desire to ensure that we have all of the resources necessary to meet it.”, says Dan Piemont. The RS1 is going to be launched from Alaska, this year. The left fundings will be used for further research and development of vehicles.