In-space shuttle service, Momentus, raises $25.5 million as investments climb for 'new space' tech

With commercial launch services expected to reach $7 billion by 2024, there's increasing demand for an array of new technologies that can offer advantages to companies looking to get communications infrastructure in orbit. The company joins other satellite and telecommunications technology vendors like Akash Systems, which raised $14.5 million for its advanced telecommunications chipsets used in satellites, that have raised money from investors looking beyond basic launch services. A motley assortment of venture capital firms, hedge funds, family offices and other institutional investors came in to finance the new round of funding for Momentus including: Y Combinator, the Lerner Family, the University of Wyoming Foundation, Quiet Capital, Mountain Nazca, ACE & Co., Liquid 2 Ventures and Drake Management.