Funding round
K2 Space Seed
K2 Space, which works in satellite platform design and manufacturing in Torrance, raised $8.5M in a Seed round announced on 10 Mar 2023, led by First Round and Republic Capital, at a $45M post-money valuation. 9 firms took part. It is K2 Space's first venture round on record.
$8.5M
Amount raised
$45M
Post-money valuation
9
Investors
2 leads
19%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced K2 Space at $45M after the new money. The $8.5M bought investors about 19% of the company. It is K2 Space's first venture round on record, 1 year after it was founded in 2022. It is under 1% of the $920M K2 Space has raised in the venture rounds on record. K2 Space raised again 11 months later: a Series A round of $51M in Feb 2024, at $250M post-money.
K2 Space's funding rounds
K2 Space has 5 venture rounds on record and 1 other deal. This one is highlighted.
- Seed this round 10 Mar 2023, led by First Round and Republic Capital $8.5M$45M post-money
- Series A 13 Feb 2024 $51M$250M post-money
- Series B 13 Feb 2025, led by Lightspeed Venture Partners and Altimeter $110M
- Other not a venture round 15 Sep 2025 $15M
- Series C 11 Dec 2025, led by Redpoint Ventures $250M$3.00B post-money
- Series D 30 Jul 2026, led by Kleiner Perkins and ICONIQ $500M$6.80B post-money
Investors
Who put money in
First Round and Republic Capital led the round with 7 other firms.
Lead investors
- backs 212 venture-backed companies new investor
- Republic Capital new investor
Also in the round
- backs 13 venture-backed companies new investor
- backs 77 venture-backed companies new investor
- Countdown Capital new investor
- Earthrise Ventures new investor
- Pathbreaker Ventures new investor
- backs 21 venture-backed companies new investor
- Spacecadet VC new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, scaling operations and working capital.
- Hiring
- Product development
- Scaling operations
- Working capital
Comparable rounds
How it compares
41 Seed rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $4.0M, and this round was 2.1 times the median. The closest in time, other companies' Seed rounds in Aerospace and Defence:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Aerospace and Defence | 28 Mar 2023 | $2.2M | not disclosed | not named |
| Aerospace and Defence | 15 Mar 2023 | undisclosed | not disclosed | not named |
| Aerospace and Defence | 15 Feb 2023 | $4.8M | not disclosed | Oxford Science Enterprises |
| Aerospace and Defence | 5 Apr 2023 | $4.0M | not disclosed | MaC Venture Capital |
| Aerospace and Defence | 23 Jun 2023 | $13M | not disclosed | Caruso Ventures |
| Aerospace and Defence | 5 Dec 2022 | $7.4M | not disclosed | Alpine Space Ventures and High-Tech Gründerfonds |
| Mach Industries Aerospace and Defence | 16 Jun 2023 | $5.7M | not disclosed | Sequoia Capital |
| ATMOS Space Cargo Aerospace and Defence | 22 Jun 2023 | $4.4M | not disclosed | High-Tech Gründerfonds and Amadeus Capital |
Sources
Where this comes from
Reported by 1 source. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did K2 Space raise in its Seed round?
K2 Space raised $8.5M in its Seed round, announced in Mar 2023.
Who led K2 Space's Seed round?
First Round and Republic Capital led it, with Also Capital, Boost VC, Countdown Capital, Earthrise Ventures and Pathbreaker Ventures and 2 more.
What was K2 Space's valuation at the Seed round?
$45M post-money.
How does it compare with other Seed rounds in Aerospace and Defence?
41 Seed rounds in Aerospace and Defence within a year either side disclosed an amount; the median was $4.0M, and this round was 2.1 times the median.
Did K2 Space raise again after this round?
Yes: a Series A round in Feb 2024 of $51M at $250M post-money.