A startup established three years ago to churn out a new class of high-power satellites has raised $250 million to ramp up production at its Southern California factory.

The company, named K2, announced the cash infusion on Thursday. K2’s Series C fundraising round was led by Redpoint Ventures, with additional funding from investment firms in the United States, the United Kingdom, and Germany. K2 has now raised more than $400 million since its founding in 2022 and is on track to launch its first major demonstration mission next year, officials said.

K2 aims to take advantage of a coming abundance of heavy- and super-heavy-lift launch capacity, with SpaceX’s Starship expected to begin deploying satellites as soon as next year. Blue Origin’s New Glenn rocket launched twice this year and will fly more in 2026 while engineers develop an even larger New Glenn with additional engines and more lift capability.

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China’s first attempt to land an orbital-class rocket may have ended in a fiery crash, but the company responsible for the mission had a lot to celebrate with the first flight of its new methane-fueled launcher.

LandSpace, a decade-old company based in Beijing, launched its new Zhuque-3 rocket for the first time at 11 pm EST Tuesday (04:0 UTC Wednesday), or noon local time at the Jiuquan launch site in northwestern China.

Powered by nine methane-fueled engines, the Zhuque-3 (Vermillion Bird-3) rocket climbed away from its launch pad with more than 1.7 million pounds of thrust. The 216-foot-tall (66-meter) launcher headed southeast, soaring through clear skies before releasing its first stage booster about two minutes into the flight.

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