Rocket Lab’s Electron Rocket Photo: Rocket Lab

Rocket Lab has closed a Series E financing round of $140 million. The Series E round close brings total Rocket Lab funding to date to more than $288 million , with the company now past its previous $1 billion-plus valuation.

The funding round closed last month, prior to the launch of the successful mission “It’s Business Time,” and was led by existing investor Future Fund, with strong participation from current investors including Greenspring Associates, Khosla Ventures, Bessemer Venture Partners, DCVC (Data Collective), Promus Ventures, and K1W1. New investor, ACC, also contributed to the round.

The round also follows the opening of Rocket Lab’s new mass production facility for the Electron vehicle last month, as well as the announcement confirming the location of Rocket Lab’s second orbital launch site. Construction has now begun on Rocket Lab Launch Complex 2, which is based within the Mid-Atlantic Regional Spaceport at NASA Wallops Flight Facility in Virginia. According to the release, Launch Complex 2 can support monthly orbital launches from U.S. soil, and is designed specifically to serve the responsive space needs of government customers. Between the two Rocket Lab launch complexes, the company can support up to 130 orbital missions per year.