What Happened
US Rocket Company Targets Comeback After Financial Struggles
US rocket company Astra Space is seeking to raise $250 million in a funding round expected to close this quarter, as it looks to rebound from years of financial struggles. The company, once valued at over $2 billion, was taken private in 2024 at $11.25 million following repeated launch failures. Astra is now betting on its new Rocket 4 launch vehicle and growing satellite propulsion business. According to Reuters, Astra’s latest fundraising push marks its first since an $80 million raise last year used to cover legal costs and refinance the company.