Robinhood Markets co-founder’s space startup completes $275 million funding round

Investing.com – Cowboy Space Corp. is a space startup founded by Baiju Bhatt, co-founder of Robinhood Markets Inc. The company announced on Monday that it has completed Series B funding, raising $275 million, with the company’s valuation reaching $2 billion after the funding round.

The funding was led by Index Ventures, with new investors including Blossom Capital, and existing investors such as Breakthrough Energy Ventures founded by Bill Gates and Andreessen Horowitz also participating.

Headquartered in San Carlos, California, the company was established in 2024, previously operating under the name Aetherflux. The company announced plans to build data centers in orbit using its own rockets, a move that will put Cowboy Space in direct competition with companies like SpaceX, founded by Elon Musk.

The company plans to complete its first rocket launch by 2028. Bhatt said in an interview, “The upper stage of the rocket itself will become satellites in orbit.”

Bhatt stated that due to limited existing launch capacity, the company has decided to develop its own rockets. He said, “If we don’t build our own rockets, we can’t control our own destiny.”

This announcement marks a significant shift in the company’s strategic direction — previously, the company’s core business was developing satellites to transmit space solar energy to Earth. Cowboy Space had previously announced plans to launch satellites aboard SpaceX rockets.

Bhatt said the company still plans to advance the above launch plans later this year.

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