This Futuristic Startup Raised $40 Million to Fling Heavy Objects Into Space
Fri Jun 15 2018
Lucy Harlow (2070 articles)

This Futuristic Startup Raised $40 Million to Fling Heavy Objects Into Space

Welcome to the future.

SpinLaunch, a startup building space catapults, just raised $ 35 million in funding from investors, including GV, Airbus, and Kleiner Perkins. It previously raised $ 5 million in seed funding.

So, what exactly are space catapults? In basic terms, they are machines meant to fling objects — such as satellites — into space. SpinLaunch’s objective is to create a cheaper and more sustainable way to launch rockets.

As it stands today, it takes an inordinate amount of energy and capital to lift a rocket from its launchpad. Space exploration companies currently rely on fossil fuels, which can cost hundreds of thousands of dollars for a single launch.

Bloomberg reports, “Rather than using propellants like kerosene and liquid oxygen to ignite a fire under a rocket, SpinLaunch plans to get a rocket spinning in a circle at up to 5,000 miles per hour and then let it go.”

Related: The Private Space Race — By the Numbers

SpinLaunch would use electricity to accelerate a projectile to pierce through gravity and the atmosphere. The company also plans to shorten the amount of time it takes to launch a rocket. CEO Jonathan Yaney said he expects the mechanism to allow for multiple launches a day, compared to the traditional space company lag of several days or weeks in between launches.

SpinLaunch is planning to make its first launch in 2022.

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Lucy Harlow

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe