Firefly Aerospace Inc.

Based in Texas, Firefly Aerospace Inc. designs, manufactures, and operates launch and spacecraft vehicles for small payloads. Its flagship launch vehicle, Alpha, is a 95-foot rocket, designed to send up to 1,000kg into low Earth orbit (LEO), costing USD 15 million per launch. While the first launch of the rocket failed mid-air in September 2021, the second launch which took place in October 2022 was a success. The company is also developing a larger rocket, Firefly Beta, which is a two-stage launch vehicle designed to send upto 11,000 kg to a 200 km LEO. Firefly expects the launch vehicle to have the lowest cost per kg to orbit of all launch vehicles in the 8,000 kg and under class.

In addition to the launch vehicles, the company is developing a space utility vehicle (also known as a “space tug”) to transfer satellites into unique orbits after a launch as well as a Blue Ghost lunar lander. The lunar lander has a capacity to take 150kg payload to the lunar surface and the ability to support scientific lunar research. The company completed the Integration Readiness Review (IRR) of Blue Ghost Lunar lander in April 2022. 

In June 2023 , Firefly Aerospace acquired Spaceflight Inc. for an undisclosed amount. The acquisition allowed it to bolster its portfolio of low-cost space transportation services and enabled the company to respond rapidly to customer needs and enhance its capabilities in launch, lunar operations, and on-orbit services.

Key customers and partnerships

The Blue Ghost lander won a USD 93 million contract from NASA to carry payloads to the moon’s surface in 2023 in order to investigate a variety of lunar surface conditions and resources that will help prepare for human missions to the lunar surface. The company also collaborated with Northrop Grumman to develop Antares rocket and new medium launch vehicle.

In September 2022 , NASA selected its Alpha rocket as its launch services provider for the agency's Venture-Class Acquisition of Dedicated and Rideshare (VADR) missions in the 500kg–1,000 kg weight range. The startup has also secured multiple agreements with other entities including a launch services agreement with Exolaunch (a provider of launch services) to integrate and launch multi-satellite clusters aboard Firefly’s Alpha launch vehicle. In March 2023, Firefly Aerospace managed to secure a USD 112 million contract from NASA under the agency’s commercial lunar payload services (CLPS) initiative, for the delivery of multiple payloads in 2026.  In June 2023 , the company signed a launch agreement with Lockheed Martin for a technology demonstration mission. Lockheed Martin was to use Firefly's Alpha rocket to launch its spacecraft technologies

Funding and financials

In its latest funding round in February 2023 , the company raised USD 30.2 million as the first tranche of a Series C funding round totalling USD 300 million. While a specific valuation was not disclosed, according to the company this new round is slated to come with a valuation higher than  its previous valuation of over USD 1 billion.