June 3 -

The company has now raised $525 million total in funding.

Tom Mueller, an employee of Elon Musk’s SpaceX and a founding member, is leading the team at Impulse Space, which creates spacecraft that transport satellites to different orbital positions in order to meet the growing demand for orbital logistic services.

Why it's important

Industry experts predict a surge of ride-sharing missions as SpaceX's Starship, and Blue Origin's New Glenn near operational status.

This launch places multiple satellites onto a single rocket, and often requires space tugs to deliver the satellites into precise orbits.

CONTEXT

The funding will allow Impulse Space's in-space transportation solutions to be more cost-effective and faster for the commercial, civil and military sectors.

For satellite deployment, Earth-observation support, and deep space exploration, in-space mobility is essential.

Space tugs are a cost-effective solution for satellite operators to reach specific orbits, without the need for customized launches.

By the Numbers

Impulse has won more than 30 contracts worth nearly $200 Million from the government and commercial sectors.

Two missions have been completed by the company using Mira's high thrust space vehicle.

The startup didn't disclose the valuation for its funding round, and it did not respond immediately to an information request.

What's Next?

Impulse will expand its workforce to meet the growing demand of customers, speed up research and development, and increase production of its Mira spacecraft and Helios rockets. (Reporting by Akash Sriram in Bengaluru; Editing by Tasim Zahid)

(source: Reuters)