Phase Four Propels Forward with Series C Funding Round

Deal News | Jan 09, 2025 | New Science Ventures LLC

Phase Four Propels Forward with Series C Funding Round

Phase Four, an innovator in in-space propulsion systems, has successfully initiated its Series C funding round, led by Artemis Group Capital, securing nearly 60% of its target. This infusion of capital will enable Phase Four to scale production of its Valkyrie Hall Effect Thrusters to meet rising global demand, particularly from government and commercial sectors. The funding round is a notable milestone for the company, allowing it to enhance manufacturing capacities and push forward with next-generation technologies aimed at defense and national security. The strategic partnership with Redwire Space further strengthens Phase Four's market position, highlighting the robust demand for its thrusters and establishing it as a reliable domestic supplier amid global supply chain uncertainties. The Series C round is expected to conclude by Q1 2025, with plans to channel resources towards manufacturing, research and development, and deepening alliances within the space industry. Phase Four's innovations continue to support the growing needs of small satellite constellations and space maneuverability, as they gear up to accelerate advancements in propulsion technology.

Sectors

  • Aerospace and Defense
  • Venture Capital and Private Equity
  • Manufacturing

Geography

  • United States – Phase Four and Artemis Group Capital are based in the U.S., and the article emphasizes domestic supply chain resilience.

Industry

  • Aerospace and Defense – In-space propulsion systems and partnership with Redwire Space indicate that Phase Four operates within the aerospace and defense industry.
  • Venture Capital and Private Equity – The article describes a Series C funding round led by Artemis Group Capital, a venture firm.
  • Manufacturing – Phase Four's focus on scaling manufacturing capabilities aligns their operations with the manufacturing industry.

Financials

  • 60% – Phase Four has secured nearly 60% of its Series C target raise thus far.

Participants

NameRoleTypeDescription
Phase FourTargetCompanyA provider of in-space electric propulsion solutions aiming to meet rising demands.
Artemis Group CapitalPE FirmCompanyAn investment firm specializing in space and defense companies, leading Phase Four's Series C round.
Redwire SpacePartner CompanyCompanyPartnered with Phase Four on the Valkyrie propulsion system.
Jim BridenstineLeaderPersonFormer NASA Administrator and U.S. Congressman, leading Artemis Group Capital.
Dr. Umair SiddiquiChief Technology OfficerPersonCTO at Phase Four, commenting on the importance of the funding round.
Dr. Steve KiserCEOPersonCEO of Phase Four, emphasizing the significance of scaling domestic supply chains.