Sagittarius Logistics raises $1.2M for inland launch
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Sagittarius Logistics has closed a $1.2M pre-seed round to build a reusable rocket, Payload reports. The startup was founded last year by David Masten, the founder of Masten Space Systems, and three former Masten employees: CEO Jonathan Slavik, COO Jenna Edwards and chief of production Daniel Sinkel. Investors in the round include Nova Threshold, Felicis Scout Fund, Ingenuity VC and Space Venture Studios.
The pitch is about where rockets fly from. Slavik told Payload the company wants inland launch sites it controls, so it does not have to compete for slots at the Cape. Its launchers are designed to abort mid-flight and land both stages downrange or back at the launch site, which the company says would help it meet stricter safety rules for flying over land.
The company is early. Sagittarius is buying an engine from an undisclosed supplier, and it still has to finish its tanks, vehicle structure and guidance systems before a pathfinder mission. Slavik also said the three planned vehicles would need more than $1 billion in total capital, and that the company will raise money in steps.
Why it matters: launch demand is outpacing supply, and more launch sites could ease the crowding. A $1.2M round pays for early development, not for a flight.
What do you think: is a launch site away from the coast worth the extra work?
Sources: Payload