SpinLaunch raises $11M but hoped to raise much more, source says

Space startup SpinLaunch is fundraising again, raising $11.5 million out of a planned $25 million, though it had hoped to raise much more earlier this year.

SpinLaunch Fundraising

SpinLaunch was exploring raising a $350 million round at a $2 billion valuation to build a massive satellite constellation and compete with Starlink.

Ambitious Plans

SpinLaunch has made progress with its kinetic launch system, conducting 10 suborbital tests, but is now going through a period of flux as it looks to commercialize its technology.

Progress and Challenges

While SpinLaunch has grand ambitions, raising funds and executing on its plans have proven challenging, as is often the case in the space industry.

Future Outlook