K2 Space engineers prepare a high-power satellite for testing at the company’s recently opened Torrance manufacturing facility, where the team will scale production following its $110M Series B raise. Photo: K2 Space

K2 Space announced a $110 million Series B funding round to scale up production of its multi-orbit, high-power satellite platform on Feb. 13.

The funding round was co-led by Lightspeed Venture Partners and Altimeter Capital. It also included participation from Alpine Space Ventures, First Round Capital, and others. The round brings K2 Space’s total equity funding to $180 million.

K2 Space plans to use the funding to increase production capacity, hire talent, and integrate additional components into its operations. The company said they are focused on producing high power, high payload mass satellites at a lower cost. K2 Space also recently opened a 180,000 square foot factory in Torrance, California.

Karan Kunjur, CEO at K2 Space, explained: “Higher capability satellites have been far too expensive for most proliferated applications. This is the gap K2 fills – making highly capable, powerful satellites available to a much broader market. And because our satellites are designed to proliferate in higher orbits, our constellations require fewer satellites and fewer launches to provide global coverage.”

K2 Space recently completed full activation and operation of all hardware launched on its first in-space mission. K2 Space launched a number of satellite bus components including a flight computer, motor controller, and reaction wheel on the D-Orbit ION vehicle that launched in January on SpaceX’s Transporter-12 rideshare mission.

K2 Space’s upcoming mission, “Gravitas,” is designed to demonstrate its platform’s ability to operate in Medium-Earth Orbit (MEO) and perform an electric propulsion orbit raise from Low-Earth Orbit (LEO) to MEO. The Gravitas mission will carry a mix of national security and commercial payloads.