Lockheed Martin has invested in Rocket Lab‘s U.S. subsidiary to support research and development of new technologies for space exploration.
“Rocket Lab’s work could have application in a number of aerospace domains, and we look forward to working with them to complement our overall efforts in small lift capabilities and hypersonic flight technologies,” Ned Allen, chief scientist at Lockheed, said Monday.
Rocket Lab USA has also raised an undisclosed amount of money in a round of Series B financing from investment firms Bessemer Venture Partners, K1W1 and Khosla Ventures.
The aerospace firm says it will use the funds to further develop its Electron composite launch vehicle platform for small satellites and aims to start offering commercial launch services in 2016.
The company is slated to present the system at the Space Symposium that will be held in Colorado Springs, Colorado, in April.