Ursa Major, a leading privately funded rocket propulsion company in the U.S., has closed $138 million in its Series D and D-1 funding rounds. The investments were led by Explorer 1 Fund and Eclipse, with participation from RTX Ventures, BlackRock-managed funds, Exor Ventures, Mack & Co., LLC, XN, and other institutional shareholders.
Ursa Major focuses on developing rocket propulsion systems and will use the funds to advance its innovative solid rocket motor (SRM) program named Lynx, scale production capacity, and progress multiple propulsion programs.
The funding will support the company’s efforts to address critical gaps in the nation’s defense capabilities, with a focus on developing innovative propulsion systems for medium- and heavy-weight applications. Ursa Major has introduced the Lynx SRM program, a line of solid rocket motors designed to deliver urgently needed capabilities. The company has also unveiled Draper, a storable liquid engine intended to defend against hypersonic weapons, and has worked on enhancing the Ripley and Hadley engines.
Ursa Major’s propulsion-only approach aims to disrupt the existing vertically integrated launch industry by providing vehicle-agnostic engines for various launch and hypersonic applications. The company’s flexible rocket engines are suitable for both Department of Defense (DOD) and non-DOD missions, covering air launch, hypersonic flight, and on-orbit operations. The funds will help Ursa Major scale its production capacity to meet market demand and continue technological innovation in the field of rocket propulsion.
Greg Reichow, Partner at Eclipse and former Vice President of Production at Tesla, highlighted the importance of Ursa Major’s propulsion systems in filling a critical gap in the defense industrial base. The company’s ability to deliver high production rates, low cost, and advanced technology is considered crucial for maintaining national security.
Ursa Major aims to contribute to the space industry’s growth by providing reliable and flexible rocket propulsion solutions. The company’s approach leverages lessons learned from liquid rocket engines for space launch to reimagine solid rocket motor design and manufacturing. Ursa Major utilizes 3D printing to manufacture multiple motors that outperform legacy systems, offering a faster and more affordable process for addressing America’s SRM shortage.