X-Bow Systems, Leading 3D Printed Solid Rocket Motor Company, Raises $ 27M Series A Round
26 Apr, 2022, 09:30 ET
Funding round co-led by Crosslink Capital and Razor's Edge Ventures, with additional investment from Lockheed Martin Ventures and Broom Ventures
ALBUQUERQUE, N.M., April 26, 2022 /PRNewswire/ -- X-Bow Systems Inc. (X-Bow), a U.S.-based space technology company applying revolutionary additive manufacturing techniques to the production of solid rocket energetics, announced today that it has closed a $27 million Series A investment round. The round closes ahead of X-Bow's static fire test of its 32" diameter 'Ballesta' solid rocket motor and subsequent launch at White Sands Missile Range, N.M. This will be the first large-diameter scale motor designed and tested by a non-legacy systems integrator supplier in over 30 years, bringing innovation to the sector from a modern technology competitor.
The Series A round was co-led by Crosslink Capital and Razor's Edge Ventures, with additional participation from Lockheed Martin Ventures and Broom Ventures. X-Bow's capital raise team was led by its co-founder and CRO, Maureen Gannon. The capital raise comes at a time of significant growth for X-Bow as the company advances its patent-pending additive manufacturing technology for solid rocket energetics and expands its solid rocket motor product portfolio. X-Bow is poised to disrupt the solid rocket motor industry with its affordable large-scale motor designs and modular boost vehicle architectures, which are already in development with customers across the U.S. national security, defense and space communities who see X-Bow's additive manufacturing as a transformational technology addressing their unmet needs. The new financing will further accelerate customer support, grow the team, and invest in the company's next generation of product offerings.
"We are proud of the support we have received from our investors and appreciate the confidence they signal in X-Bow's team, breakthrough technology and innovative approach to solid rocket motor development. Raising a strong round with these high caliber investors allows us to increase our rapid growth and accelerate our plans to disrupt a critical industry," said Jason Hundley, X-Bow CEO and Founder. "I am also very fortunate to work with an outstanding team here at X-Bow that is making groundbreaking achievements in the sector."
"X-Bow has a great combination of experienced leadership and a truly innovative additive manufacturing technology for energetics," said Matt Bigge, Crosslink Capital Partner. "They are the much-needed changemaker poised to disrupt the energetics market with its disruptive technologies. Crosslink invested in X-Bow because of its ability to catalyze a critical evolution in the national security, defense and commercial space technology markets."
"The X-Bow team brings a unique perspective and clear vision of the gaps within the traditional ecosystem of solid rocket motor manufacturers. The company's proprietary additive manufacturing approach to solid rocket energetics, motors and architectures will, for the first time, enable rapid, agile, cost-effective solutions to be brought to a market that has always thought about product development in terms of years of development time and tens or hundreds of millions of dollars per product," said Mark Spoto, co-founder and Managing Partner of Razor's Edge Ventures. "We invest in great management teams with differentiated products that solve large, difficult problems across both national security and the commercial enterprise markets and are extremely excited to partner with X-Bow's team to help accelerate their growth and product expansion."
ABOUT X-BOW SYSTEMS
X-Bow Systems (X-Bow) is disrupting the aerospace industry with innovative and cost-effective additively manufactured energetics for the solid rocket motor and launch vehicle market. X-Bow is also designing and building a suite of modular solid rocket motors and small launch vehicles for both orbital and suborbital launch services. X-Bow is led by CEO Jason Hundley, Chairman Mark Kaufman, CTO Max Vozoff, CFO Yasmin Seyal, CRO Maureen Gannon, General Counsel John Leary and a growing team of seasoned industry veterans and new space entrepreneurs. Headquartered in Albuquerque, New Mexico, X-Bow has additional presence in California, Alabama, Colorado, Texas, and Washington DC. X-Bow is actively recruiting talented and determined individuals to join its team. For more information visit www.xbowsystems.com
ABOUT CROSSLINK CAPITAL
Crosslink Capital, founded in 1989, is based in Menlo Park and focuses on early-stage venture capital investing, backing entrepreneurs who are building disruptive and market-transforming companies. Crosslink has raised nine venture capital funds and manages over $3.6 billion. For more information visit www.crosslinkcapital.com
ABOUT RAZOR'S EDGE VENTURES
Razor's Edge is a multi-stage venture capital firm that invests in technology companies solving significant challenges in national security and high-growth commercial markets. In addition to providing capital to accelerate the pace of innovation, Razor's Edge offers direct and practical operational support informed by decades of collective experience in the national security sector. The Razor's Edge team works tirelessly to identify disruptive technologies and capabilities that can solve critical mission needs and deliver them to government and commercial customers who need them. For more information, visit www.razorsvc.com
ABOUT LOCKHEED MARTIN VENTURES
Lockheed Martin Ventures makes strategic investments in companies that are developing cutting edge technologies in core businesses and new markets important to Lockheed Martin.
More than a source of capital, Lockheed Martin Ventures provides portfolio companies with access to our world-class engineering talent, state-of-the-art technologies, and research and access to the company's international business relationships and supply chain. For more information, visit www.lockheedmartinventures.com
Tel: (505) 772-9577
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SOURCE X-Bow Systems
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