TORRANCE, Calif. — Satellite manufacturer K2 Space has closed a $250 million Series C funding round, valuing the company at $3 billion as it prepares to mass-produce its “Mega Class” spacecraft. The round was led by Redpoint Ventures, with participation from Alpine Space Ventures, Altimeter Capital, Lightspeed, and accounts advised by T. Rowe Price Associates.
The funding targets the commercial scaling of K2’s heavy-lift optimized satellite bus. Unlike the SmallSat architectures that defined the previous decade of NewSpace, K2 Space designs massive, high-power platforms intended to maximize the throw-weight capabilities of next-generation launch vehicles like SpaceX’s Starship and Blue Origin’s New Glenn. The company asserts its “Mega Class” satellites can deliver approximately 10 times the power and payload capacity of traditional buses at a fraction of the cost.
This capital injection follows a rapid sequence of growth milestones for the Torrance-based firm. In February, K2 Space closed a $110 million Series B round to bring its manufacturing facility online. By September, the company had secured a strategic partnership with SES to co-develop the operator’s future Medium Earth Orbit (MEO) network.
According to the company, K2 Space now holds $500 million in signed contracts across commercial and U.S. government customers. The firm’s 180,000-square-foot factory in Torrance is being tooled to produce up to 100 satellites annually to meet this demand.
“GRAVITAS brings our full stack together for the first time,” said Karan Kunjur, Co-Founder and CEO of K2 Space. “We are validating the architecture in space, from high-voltage power and large solar arrays to our guidance and control algorithms, and a 20 kW Hall thruster, and we will scale based on measured performance.”
The company is scheduled to launch its first production satellite, GRAVITAS, in March 2026. This mission will test the platform’s core technologies, including high-voltage power systems and large deployable structures, in an operational orbit. Following the GRAVITAS mission, K2 plans multiple launches throughout 2026 and 2027 to deploy operational constellations for its commercial and national security clients.