K2 Space Raises $110M, Plans Satellite Production Expansion

K2 Space has successfully raised $110 million in a Series B funding round, co-led by Lightspeed Venture Partners and Altimeter Capital, bringing its total equity raised to $180 million since its inception in 2022. The California-based startup aims to scale production of its innovative satellite bus platform, which combines the capabilities of high-performance satellites with the cost efficiency of small satellites. K2 Space plans to utilize the new funds to enhance production, hire talent, and increase in-house component manufacturing. The company also announced its first government mission, 'Gravitas', which will test its platform's capabilities in both low and medium Earth orbits while carrying national security and commercial payloads. CEO Karan Kunjur emphasized the need for advanced capabilities that traditional small satellites cannot provide, positioning K2 to meet the growing demand for high-capacity spacecraft. Additionally, K2 Space is expanding its operations with a new 180,000-square-foot factory in Torrance, California, to support its growth.