Funding

Defense-Based K2 Space Raises $500M in Series D Funding Round

Jul 31, 2026 | By Devin Jacobs

SUMMARY

K2 Space has raised $500 million in Series D funding led by Kleiner Perkins and ICONIQ.
K2 Space develops high-performance satellites for commercial, scientific, and defense applications.
The company will use the funding to expand manufacturing, grow its team, and speed up the development of its next-generation satellite platforms.

K2 Space, a Torrance, CA-based company manufacturing satellites, has raised $500M in a Series D funding round led by Kleiner Perkins and ICONIQ at a $6.8B valuation, bringing the total to over $ 1 billion.

The round also saw participation from CapitalG, Lightspeed, Altimeter, Spark Capital, Sands Capital, ARK Invest, T. Rowe Price Associates, Inc., and other existing investors.

The company plans to use the capital to scale operations, expand its factory footprint, grow its workforce, and accelerate the development of next-generation satellite platforms.

Funding Snapshot

Metric	Details
Fundraise Amount	$500 Million
Valuation	$6.8 Billion
Company	K2 Space
Sector	Space Technology / Defense / Satellite Manufacturing
Headquarters	Torrance, California, USA

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About K2 Space

Founded in 2022, by Karan Kunjur and Neel Kunjur, K2 Space develops and manufactures satellites for commercial, scientific and defense applications. The company focuses on building high performance satellite platform's designed to improve power capacity, propulsion efficiency and payload capabilities.

K2 Space aims to redefine satellite manufacturing by producing larger, more capable spacecraft at lower costs through vertically integrated production, and scalable manufacturing systems.

Core offerings include:

Large satellite platforms for commercial and defense missions.
High-capacity satellite buses.
Advanced propulsion and power systems.
Large-scale satellite constellation solutions.

Core Technologies / Products / Services

Capability/Product	Application/Use Case
Giga-Class Satellites	High-power computing and advanced space missions
Satellite Buses	Commercial, scientific, and defense applications
Vertically Integrated Manufacturing	Faster and cost-efficient satellite production
Large Satellite Constellations	Supporting global space infrastructure

Leadership Comments

"In addition to expanding our factory footprint and growing our accomplished workforce, we'll also be scaling up the satellite itself," said Neel Kunjur, K2 Space Co-Founder and CTO. "We'll be introducing our 100kW Giga-class satellite in the second half of 2028, which will be the foundational platform for deploying massive amounts of compute on orbit."

"When my brother Neel and I started K2 four years ago, we took a contrarian bet that building bigger would be the future for exploring and developing space," said Karan Kunjur, Co-Founder and CEO of K2 Space. "This latest round validates that thesis and gives us the capital to accelerate scaling as we prepare to build up to 100 large satellites per year."