A New Zealand Unicorn — watch out it’s a literal Rocketship!
Well I did have my money on PushPay being the next company reaching that billion dollar valuation in New Zealand, but, as with most large scale New Zealand technology companies, it’s not privately held, which disqualifies it from the Unicornlabel. But hey, doesn’t matter, my bet was wrong and I didn’t see this one coming.
Which is particularly annoying as Frontier Tech is one of my favorite sectors — with cool ass shit like this, this and this. New Zealand’s own Frontier Tech pioneer, Rocket Lab, today announced it had secured a new funding round of US$75 million to help with the production of it’s rockets once it gets past the testing stages. If you don’t know anything about RocketLab yet, lemme tell you:
RocketLab has developed lightweight, cost-effective commercial carbon fibre rocket launch services that can deliver high-frequency, low-mass payload deliveries into space — essentially capable of commoditizing the satellite delivery business. All being launched from lil’ old New Zealand.
Currently, many small satellite companies have to wait years to get their kit into orbit. Often at the mercy and schedules of larger companies, government organizations and their associated payloads — and also at extraordinary expense. RocketLab will launch satellites for a cool $US5m at a clip.
This current funding round places the privately held company with a valuation of $1.4bn NZD ($1b USD) and was led by Silicon Valley venture capital firm Data Collective