In a substantial boost for the aerospace industry, K2 Space, headquartered in Los Angeles, has secured an additional $7 million in funding. This financial injection pushes the total investments in the company to a commendable $16 million.
The funds come from Alpine Space Ventures, a European fund spearheaded by early SpaceX engineers, including notable figures such as Catriona Chambers. K2 Space, led by former SpaceX engineer brothers Karan Kunjur and Neel Kunjur, aims to utilize this capital infusion to fuel further expansion and advance its development endeavors.
K2 Space is charting a revolutionary path in the world of satellite buses. Founded by the Kunjur brothers, the company has set its sights on delivering large satellites at unprecedented speeds and significantly lower costs compared to traditional aerospace giants. While the prevailing trend in spacecraft design focuses on minimizing size and weight, with small satellites weighing tens to hundreds of kilograms, K2 Space is charting an unconventional course.
The company is actively developing two distinct satellite buses: the Mega class, capable of carrying payloads up to one ton at a cost of $15 million, and the Giga class, designed to accommodate several tons, priced at $30 million. Remarkably, these satellite buses are designed to fit into SpaceX's Starship. Achieving these cost-effective price points is K2 Space's mission, driven by innovations in power, attitude control, thermal management, and more.
With plans to conduct Mega satellite tests next year, the company aims to commence commercial flights by 2025. The ambitious Kunjur brothers also harbor dreams of deploying four or five Mega-class satellites to establish a geostationary communications network surrounding Mars.
K2 Space has notched up three significant contracts with the US Department of Defense, with a combined contract value of $4.5 million. These contracts span various end-users, showcasing compelling interest from the defense sector in K2's larger platform.
"We aim to apply engineering principles similar to those at SpaceX but on a scale that has yet to be explored in the industry," explained Neel Kunjur. "Our spacecraft are remarkably distinct from any large or small satellites in existence today. We are reevaluating components and investing in extensive in-house development to pioneer new technologies that optimize mass and cost in groundbreaking ways."
The Kunjur brothers envision a future where K2 Space becomes the go-to platform that empowers payload development with newfound flexibility and innovation.