K2 Space Raises $500 Million Series D at $6.8 Billion Valuation to Scale Next-Generation Satellites

K2 Space Secures $500 Million in Series D Funding

California-based K2 Space has raised $500 million in Series D funding at a $6.8 billion valuation to accelerate production of its next-generation large satellite platforms.

The round was co-led by Kleiner Perkins and ICONIQ, with participation from CapitalG, Lightspeed, Altimeter, Spark Capital, Sands Capital, ARK Invest, and T. Rowe Price Associates.

With this latest investment, K2 Space has now raised more than $1 billion since its founding in 2022.

Building High-Power Satellites for AI, Defense, and Communications

Founded by brothers Karan Kunjur and Neel Kunjur, K2 Space is developing large, high-power satellite platforms designed to support AI computing, secure communications, and defense applications.

Unlike traditional satellite manufacturers focused on smaller spacecraft, K2 builds larger satellite buses capable of carrying heavier payloads and delivering significantly more power in orbit.

Its first satellite, Gravitas, launched in March 2026, featuring a 20-kilowatt Hall-effect thruster, which the company says is the most powerful ever flown in orbit.

K2 is also developing its Giga-class satellite, a 100-kilowatt platform designed for large-scale orbital computing workloads, with its first mission planned for the second half of 2028.

Funding to Expand Manufacturing Capacity

K2 Space said the new capital will be used to:

• Expand its manufacturing facilities

• Increase production capacity to 100 satellites per year

• Scale development of the Giga-class platform

• Hire additional engineering talent

• Expand operations at its Seattle engineering office

The company manufactures approximately 85% of each satellite platform in-house at its 180,000-square-foot Torrance, California factory, enabling greater control over production and supply chains.

Growing Commercial and Government Demand

K2 Space said it has secured more than $1 billion in contracted backlog, including agreements with:

• SES for its meoSphere constellation

• Anduril for the Golden Dome missile-defense program

• The U.S. Space Force's Protected Tactical Satcom-Global program

The company plans to launch its next satellite mission, Trinity, in the second quarter of 2027.