K2 Space, a California startup founded in 2022 by two former SpaceX engineers, is raising $500 million and seeing its valuation double to approximately $6.8 billion in just seven months. The company develops mega-class satellites capable of producing up to 20 kilowatts of power, roughly ten times the output of conventional satellites. It has already secured contracts with the US Space Force and the defense group Anduril. In total, the company will have raised nearly $1 billion. It employs around 300 people at a 180,000 square foot manufacturing facility in Los Angeles and plans to launch its first satellite, named Gravitas.
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