TrustPoint Secures $2 Million in Seed Funding Round for GPS Alternative

DCVC funds the advancement of the NewSpace startup’s alternative global positioning service.

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)– TrustPoint, Inc., a startup with operations in Silicon Valley and Northern Virginia, announces that it has raised a $2M seed round from DCVC.

GPS is a ubiquitous global utility: knowing one’s location and accurate time is critical for government, commercial, and consumer applications. Still, today’s solutions are inaccurate, slow, unencrypted, and susceptible to jamming and spoofing. These shortcomings make heritage GPS and other government-owned and -operated systems insufficient for tomorrow’s safety-critical and high-precision commercial applications, such as drone delivery, self-driving cars, urban air mobility, and augmented reality.

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Rocket Lab Goes SPAC: Company to Go Public in Merger with Vector Acquisition Corp.

Transaction will provide capital to fund development of reusable Neutron launch vehicle with an 8-ton payload lift capacity tailored for mega constellations, deep space missions and human spaceflight

Proceeds also expected to fund organic and inorganic growth in the space systems market and support expansion into space applications enabling Rocket Lab to deliver data and services from space

Business combination values Rocket Lab at an implied pro forma enterprise value of $4.1 billion. Pro forma cash balance of the combined company of approximately $750 million at close

End-to-end space company with an established track record, uniquely positioned to extend its lead across a launch, space systems and space applications market forecast to grow to $1.4 trillion by 2030

Transaction is expected to close in Q2 2021, upon which Rocket Lab will be publicly listed on the Nasdaq under the ticker RKLB

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Rocket Lab Raises $140 Million in Funding

Electron It’s Business Time lift-off (Credits: Kieran Fanning & Sam Toms)

  • Rocket Lab reveals $140 million (USD) funding in Series E financing, closed in advance of the company’s second successful orbital mission, ‘It’s Business Time’ on 11 November.
  • Investors show continued ardent support in pre-‘It’s Business Time’ launch round led by existing backers Future Fund (Australia’s Sovereign Wealth Fund), with participation from current investors Greenspring Associates, Khosla Ventures, Bessemer Venture Partners, DCVC (Data Collective), Promus Ventures, and K1W1.
  • New investor, the Accident Compensation Corporation of New Zealand (ACC), also joins the round.
  • Funding will support continued Electron vehicle production expansion, new launch sites and three new major research and development programs.

HUNTINGTON BEACH, Calif., November 15, 2018 (Rocket Lab PR) – US orbital launch provider Rocket Lab has closed a Series E financing round of $140 million (USD). The funding round closed last month, prior to the launch of the successful mission ‘It’s Business Time,’ and was led by existing investor Future Fund, with strong participation from current investors including Greenspring Associates, Khosla Ventures, Bessemer Venture Partners, DCVC (Data Collective), Promus Ventures and K1W1. New investor ACC also contributed to the round. The Series E round close brings total Rocket Lab funding to date to more than $288 million (USD), with the company now soaring past its previous $1 billion-plus (USD) valuation.

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