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ABL Space Systems Closes $170M Series B Funding Round

ABL Space Systems
ABL Space Systems

ABL Space Systems has raised $170 million in a round of Series B financing led by accounts and funds advised by global investment management firm T. Rowe Price Associates.

Existing investors, Fidelity Management and Research and an unnamed global investment management firm participated in the new funding round that values ABL at $1.3 billion, ABL said Thursday.

Founded in 2017, El Segundo, California-based ABL is focused on building low-cost launch vehicles for small satellites. The company said it has begun development work on its RS1 launch vehicle nearly four years ago and expects the platform to perform its first flight later in 2021. The vehicle can be moved in shipping containers through the GS0 deployable launch system.

ABL said it has received contracts from four agency customers at the Department of Defense, five commercial clients and one national space agency customer.

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