X-Bow Systems is working to bring cost-effective, additively manufactured energetics to the solid rocket motor and launch vehicle market
April 26, 2022
ALBUQUERQUE, N.M.—X-Bow Systems Inc. (X-Bow), a U.S.-based space technology company that applies additive manufacturing techniques to the production of solid rocket energetics, recently closed a $27 million Series A investment round co-led by Crosslink Capital and Razor’s Edge Ventures. X-Bow Systems will use the funding to bolster customer support, grow its team, and build its next generation of solid rocket motor products, the company said in a release.
The financing round, which also included participation from Lockheed Martin Ventures and Broom Ventures, closed ahead of X-Bow’s static fire test of its 32-inch diameter Ballesta solid rocket motor, and subsequent launch, at White Sands Missile Range, New Mexico. The solid rocket motor will be the first large-diameter scale motor designed and tested by a non-legacy systems integrator supplier in more than 30 years, the company said.
“We are proud of the support we have received from our investors and appreciate the confidence they signal in X-Bow’s team, breakthrough technology, and innovative approach to solid rocket motor development,” said X-Bow CEO and Founder Jason Hundley, in the release. “Raising a strong round with these high caliber investors allows us to increase our rapid growth and accelerate our plans to disrupt a critical industry.”
X-Bow Systems is working to bring innovative and cost-effective, additively manufactured energetics to the solid rocket motor and launch vehicle market. The company said it is also designing and building modular solid rocket motors and small launch vehicles for orbital and suborbital launch services.
“Crosslink invested in X-Bow because of its ability to catalyze a critical evolution in the national security, defense, and commercial space technology markets,” said Crosslink Capital Partner Matt Bigge, in the release. “X-Bow has a great combination of experienced leadership and a truly innovative additive manufacturing technology for energetics.”
The capital raise comes at a time of significant growth for X-Bow, as the company advances its patent-pending additive manufacturing technology for solid rocket energetics and expands its solid rocket motor product portfolio. X-Bow’s large-scale motor designs and modular boost vehicle architectures are now in development with customers across the U.S. national security, defense, and space communities, the company said in the release.
“The X-Bow team brings a unique perspective and clear vision of the gaps within the traditional ecosystem of solid rocket motor manufacturers,” said Mark Spoto, co-founder and managing partner of Razor’s Edge Ventures, in the release. “The company’s proprietary additive manufacturing approach to solid rocket energetics, motors, and architectures will, for the first time, enable rapid, agile, cost-effective solutions to be brought to a market that has always thought about product development in terms of years of development time and tens or hundreds of millions of dollars per product.
“We invest in great management teams with differentiated products that solve large, difficult problems across both national security and the commercial enterprise markets, and are extremely excited to partner with X-Bow’s team to help accelerate their growth and product expansion.”
X-Bow’s capital raise team was led by its co-founder and CRO, Maureen Gannon.