Dawn Aerospace, the satellite propulsion specialist, has closed its Series B funding round, raising $25 million. The investment round was led by US-based Balerion Space Ventures.

“Dawn is doing what few in this category have: building real commercial revenue and a spiral path from in-space propulsion and refueling, to a hypersonic spaceplane, to aircraft-like payload delivery to orbit, all with extraordinary capital efficiency,” said Dan Wallman, Partner at Balerion Space Ventures and incoming Series B board member.

“As the US and its closest allies build joint capability in space and hypersonics, the West needs partners who can deliver reusable, responsive access across the air and space domain. Dawn is one of them.”

Rollout

The company itself says the funding will finance its global rollout. For example, scaling commercial and operational teams in the US and Europe to support its expanding international customer base.

“As a cash flow positive company, raising capital is about accelerating the growth of programs we have extremely high conviction in, and that our customers are desperate for,” added Stefan Powell, CEO of Dawn Aerospace.

The company highlights that it has 200 thrusters in space on more than 50 satellites. Dawn has also flown supersonic with the Aurora suborbital spaceplane, making it one of only two supersonic UAVs operating globally today.

In the next 12 months, Aurora is expected to become the first vehicle to fly above the Kármán line twice in a day. Dawn will deliver this Mach 3.7 capability, it says, to the State of Oklahoma. Operations will begin in 2027 under a $17 million partnership signed last year.

In 2028, Dawn Aerospace says it will demonstrate in-orbit refuelling of its satellite propulsion systems. The “Loop” service already has backing from a number of companies with Dawn refuelling ports aboard Royal Netherlands Air Force satellites, for example.

Dawn Aerospace has dual headquarters in Delft, Netherlands and Christchurch, New Zealand. And it also has operational and business locations in France and USA.

See also: Dawn Aerospace unveils DFT port for propulsion and maintenance