Austin-area rocket maker Firefly Systems gets funding

Oct 30, 2014
Austin Business Journal

Rocket developer Firefly Systems Inc. reported receiving $463,000 of a planned $3 million financing

The Leander-based company collected the capital from 36 investors, according to a Wednesday filing with the U.S. Securities and Exchange Commission

The startup, which launched in 2013 as Firefly Space Systems, was initially based in California. It's now developing efficient rockets designed to launch small payloads

In September, news reports indicated that Firefly bought land in Burnet County north of Austin for a relocation

The company reportedly bought 200 rural acres near Briggs, where it plans to test its new rockets At the time, it was reportedly looking at Austin's northern suburbs for a headquarters that could eventually house more than 200 employees

In August, Firefly Systems announced a collaboration with the Texas Advanced Computing Center at the University of Texas to help design its new launch system. Firefly CEO Thomas Markusic, in announcements posted on the company website, said Firefly designs could potentially cut the cost of small satellite launches by millions of dollars

In July, the company announced that it was still developing a Firefly Alpha launch vehicle that could launch a 400 kilogram object into low earth orbit for as little as $8 million

Late Tuesday, a private rocket that was supposed to carry supplies to the international space station — and a University of Texas-born satellite — exploded shortly after take-off

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