K2 Space Raises $500M for Satellite Manufacturing
American space startup K2 Space raised $500 million in a new investment round. The deal values the satellite manufacturer at approximately $6.8 billion, Bloomberg reports.
Among the investors was Iconiq Capital. Back in December 2025, K2 Space raised $250 million at a $3 billion valuation. Thus, in less than a year, the investor-determined value of the startup has more than doubled.
K2 Space develops large, high-power satellite platforms for communications, Earth observation, data processing, and defense purposes. The company aims to leverage the availability of heavy rockets, including Falcon 9, Starship, and New Glenn, to move away from the industry's common small-satellite model.
The company's flagship platform is designed for a payload of up to 3 tons and a peak power of up to 30 kW. K2 Space claims to manufacture about 80% of its satellite components in-house, which should accelerate assembly and reduce reliance on suppliers.
The company operates a roughly 16,700 sq. m facility in Torrance, California. The plant was designed for an annual output of up to 100 high-power satellites. In July, K2 Space also announced the opening of an engineering office in the Seattle area.
The startup's customers include commercial operators and U.S. government agencies. According to the company, its total contracted backlog exceeds $1 billion. K2 Space is involved in Space Force satellite communications projects and the development of spacecraft for the Golden Dome U.S. missile defense system.
