True Anomaly fetches $650M in Series D round
A True Anomaly manufacturing facility in Southern California. True Anomaly photo.
By
Ross Wilkers
The four-year-old space startup closes a new capital raise on the heels of its selection for a key Golden Dome-related contract.
True Anomaly, a small satellite manufacturing startup that has quickly expanded into other aspects of space, has collected $650 million in Series D capital from investors to aid efforts in accelerating product deliveries.
This new round announced Thursday comes roughly one year after True Anomaly closed a $260 million Series C round, which focused on vertical integration and capacity expansion. True Anomaly opened for business in 2022 to exclusively focus on defense and national security space efforts.
In addition, True Anomaly is one of a dozen companies that Space Force recently announced as prime contractors for a program to develop space-based interceptors. These weapons are a cornerstone in the strategy to build out the Golden Dome missile defense system.
“Space superiority is no longer theoretical. It is a requirement for the Joint Forces to be able to operate freely in any domain,” Even Rogers, CEO and co-founder of True Anomaly, said in a release. “The doctrine and capabilities required for space superiority are nascent, and industry’s bias towards ‘dual use’ platforms is rendering combat effects against modern threats underserved and unsustainable.”
Eclipse and Riot Ventures led the Series D round that involved new investors such as Paradigm, Atreides, G Squared, The Private Shares Fund and VanEck. Existing investors returning to the fold include Accel, Menlo Ventures, ACME Capital, Space VC, Meritech Capital, Narya and 645 Ventures. Stifel Bank is providing $50 million in debt financing.
True Anomaly’s primary uses for the new capital include hiring efforts aimed at expanding the team to 500 employees by the end of this year, as well as growing its manufacturing capacity to meet customer demand and prepare for a dozen missions over the next 18 months.
One of those missions is a Space Force effort called VICTUS HAZE, where one of True Anomaly’s spacecraft will conduct a rendezvous and proximity mission in collaboration with a Rocket Lab spacecraft.
True Anomaly’s core product lines include its autonomous orbital vehicle called Jackal and Mosaic, the company’s mission autonomy software platform.