Satellite builder Muon Space Inc. today revealed that it has raised $250 million in new funding to scale satellite production.

According to Reuters, the Series C round was raised at a valuation of $1.5 billion.

Founded in 2021, Muon sells what it calls a Mission Foundry. Rather than supplying spacecraft or components to a prime contractor, it takes on mission design, manufacturing, payloads, flight software, launch and on-orbit operations under a single contract. The pitch to customers is speed: constellations delivered in months instead of the multiyear cycles that have defined the industry.

Most of the new money is going into building more of them faster. Muon opened an advanced manufacturing plant in San Jose in June designed to turn out up to 500 satellites a year by 2027, roughly 10 times its previous ceiling. The company has more than 50 satellites in development for customers and 13 already booked for launch over the next 12 months.

The company has been busy, with seven satellites launched in the first half of 2026, bringing Muon’s total to 11 across six launches with no mission failures.

Two customer constellations enter service this year. Vindlér 2.0, built for Sierra Nevada Corp., delivers radio-frequency data and analytics. FireSat, the global wildfire-detection constellation developed with Earth Fire Alliance and Google.org, was named one of TIME’s Best Inventions of 2025.

“Space infrastructure needs to scale the way cloud infrastructure did,” Chief Executive Jonny Dyer said in the funding release. “We’ve built the Mission Foundry to help customers deploy complete constellation systems in months instead of years. As more industries rely on space-based intelligence, communications, and compute, this investment allows us to accelerate the next generation of space infrastructure.”

Some of the capital is earmarked for capabilities beyond the spacecraft themselves, including advanced payloads, on-orbit artificial intelligence compute and high-bandwidth satellite connectivity delivered through a partnership with SpaceX’s Starlink. Muon recently unveiled Condor-Ultra, its largest spacecraft to date, built for high-power missions and sized to fly on Starship.

Demand is running ahead of production. President Gregory Smirin told Payload that the company’s sales pipeline sits “quite a bit above” $10 billion and that Muon is conservative about what it counts. Commercial work still outweighs government work in the backlog, Dyer told Reuters, though the government side is growing quickly. He also said an initial public offering is under consideration but unlikely in 2027 without clearer revenue visibility.

Eclipse Capital led the Series C round. Galvanize, Google, Salesforce Ventures, Wellington Management, I Squared Capital and Woven Capital joined, alongside existing backers Radical Ventures LP, Congruent Ventures, Costanoa Ventures, Activate Capital, ACME Capital, ArcTern Ventures and Overlap Holdings.

The new raise brings the total raised by Muon Space to more than $386 million.

Image: Muon Space