What Happened
Brothers Challenge SpaceX with Large Satellite Platforms
K2 Space, a company founded by two brothers, has raised $500 million in a Series D round at a $6.8 billion valuation. The funding will be used to scale the company’s production of large satellite platforms, which are designed to support AI computing, defence systems, and global communications. K2 Space’s vision is to build up to 100 large satellites per year, with its first satellite, Gravitas, launched in March 2026. The company’s funding was led by Kleiner Perkins and ICONIQ, with participation from several other investors. This development was first reported by Tech Funding News.