X-Bow Systems Secures $105 Million Series B Funding for Growth

Significant Series B Funding Achieved by X-Bow Systems

X-Bow Systems Inc, recognized for its advanced manufactured solid rocket motors (SRMs) and innovative defense technologies, has successfully completed the final round of Series B funding, raising over $105 million. This considerable funding round was strategically led by Lockheed Martin, which invested significantly to support X-Bow's vision for growth and innovation in defense technologies.

Strategic Partnership with Lockheed Martin

To enhance its production capabilities, X-Bow has entered into a strategic agreement with Lockheed Martin, one of the foremost aerospace and defense companies. This collaboration positions X-Bow as a key independent supplier of SRMs, set to fulfill both current and forthcoming defense projects. By partnering with Lockheed Martin, X-Bow aims to accelerate its advancements and expand its contributions to the defense industrial base.

CEO's Vision on Funding Impact

Jason Hundley, the CEO and founder of X-Bow Systems, expressed his enthusiasm regarding the new investment, stating, "This additional funding, alongside our collaboration with Lockheed Martin, will position us for substantial growth. We are dedicated to bolstering our production capacity and instigating significant innovations in our defense offerings." His remarks highlight the strong future X-Bow envisions with expanded resources.

Supporting Innovation in Defense

Chris Moran, Vice President and General Manager of Lockheed Martin Ventures, emphasized the importance of their ongoing investment in X-Bow Systems. He mentioned, "X-Bow is honing SRM technology that aligns with our strategy to support creative solutions crucial for our nation's security. Our continued support underlines our commitment to progressing the aerospace and defense fields." This sentiment reflects the collaborative spirit between X-Bow and its partners.

X-Bow’s Established Market Leadership

Prior to securing this Series B capital, X-Bow Systems has positioned itself as an innovator in the defense and aerospace industries. It boasts a robust track record characterized by various significant accomplishments:

• Successful Launch Services: Noteworthy achievements include a substantial backlog in hypersonic component flight tests, critical DoD missions, and capabilities.
• Non-Traditional SRM Industrial Base Leader: X-Bow is notably the only new company successfully integrated into over eight SRM programs catering to both strategic and tactical needs.
• Technological Innovation: Utilizing a patented Advanced Manufacturing of Solid Propellant (AMSP) system, X-Bow has conducted over twelve development iterations, demonstrating the capability to print and fly dynamic SRM energetic grains.
• Innovation Expertise: X-Bow is pioneering the world's first 'mobile energetics factory,' termed the Rocket Factory in a Box™, which offers unmatched flexibility for defense applications.

Plans for Future Expansion and Production

Funded by private capital, X-Bow's new energetics campus will soon open in Texas, employing the groundbreaking AMSP technology. Their production methodology aims to provide affordable and sustainable solutions, helping the Department of Defense and associated customers address emerging threats efficiently and effectively.

The funding round gained support from a wide range of investors, including Razor's Edge Ventures, Crosslink Capital, Lockheed Martin, and several other venture capital firms, which highlights the broad confidence in X-Bow's strategic direction and business model.

Exclusive Financial Advisory Support

Union Square Advisors LLC played a crucial role as the exclusive financial advisor for X-Bow during this funding transaction, ensuring that the company secured the necessary resources to push its advanced defense solutions forward.

About X-Bow Systems

X-Bow Systems is at the forefront of transforming the aerospace sector with innovative, cost-effective solutions in the solid rocket motor and launch vehicle domains. Under the leadership of CEO Jason Hundley and his experienced team, X-Bow is dedicated to designing and constructing modular solid rocket motors and small launch vehicles to meet growing market demands. The company continues to attract investment from notable entities and maintains a presence across various states, solidifying its role as a strategic player in the defense industry.

Frequently Asked Questions

What did X-Bow Systems achieve with their Series B funding?

X-Bow Systems raised over $105 million, enabling them to expand their production capacity and innovate in defense technologies.

Who led the Series B funding round for X-Bow Systems?

Lockheed Martin led the Series B funding round, highlighting their commitment to supporting X-Bow's growth.

What is the purpose of X-Bow's new Texas campus?

The Texas campus aims to utilize AMSP technology for affordable and sustainable SRM production to counter evolving defense threats.

How has X-Bow positioned itself in the market?

X-Bow has established itself as a leader in the defense and aerospace sectors with successful launch services and technological innovations in SRM development.

Who provided financial advisory support for the funding transaction?

Union Square Advisors LLC served as the exclusive financial advisor to X-Bow Systems for this financing transaction.

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