Upcoming Event
Austin-area rocket maker Firefly Systems gets funding
Send this to a friend
In August, Firefly Systems announced a collaboration with the Texas Advanced Computing Center at the University of Texas to help design its new launch system. Firefly CEO Thomas Markusic, in announcements posted on the company website, said Firefly designs could potentially cut the cost of small satellite launches by millions of dollars.
![](https://webarchive.library.unt.edu/dentonfracking/20141029235426im_/http://media.bizj.us/view/img/1992891/christophercalnan.jpg)
- Christopher Calnan
- Staff Writer- Austin Business Journal
- Email | Twitter
Rocket developer Firefly Systems Inc. reported receiving $463,000 of a planned $3 million financing.
The Leander-based company collected the capital from 36 investors, according to a Wednesday filing with the U.S. Securities and Exchange Commission.
The startup, which launched in 2013 as Firefly Space Systems, was initially based in California. It's now developing efficient rockets designed to launch small payloads.
In September, news reports indicated that Firefly bought land in Burnet County north of Austin for a relocation.
The company reportedly bought 200 rural acres near Briggs, where it plans to test its new rockets. At the time, it was reportedly looking at Austin's northern suburbs for a headquarters that could eventually house more than 200 employees.
In August, Firefly Systems announced a collaboration with the Texas Advanced Computing Center at the University of Texas to help design its new launch system. Firefly CEO Thomas Markusic, in announcements posted on the company website, said Firefly designs could potentially cut the cost of small satellite launches by millions of dollars.
In July, the company announced that it was still developing a Firefly Alpha launch vehicle that could launch a 400 kilogram object into low earth orbit for as little as $8 million.
Late Tuesday, a private rocket that was supposed to carry supplies to the international space station — and a University of Texas-born satellite — exploded shortly after take-off.
TechFlash: Austin's best tech news in your inbox, every weekday. Subscribe for free here.
Christopher Calnan covers technology, finance and clean energy for the Austin Business Journal. Subscribe to the Energy Inc. newsletter
Most Popular
- Most popular
- Emailed
- Mobile
- Mark Cuban invests $1M in Austin startup
- Why Mueller is flying high a decade into its development
- Watch the former Ginger Man get demolished (Video) (Video)
- Dog and Duck Pub to close Oct. 31
- Major downtown Austin hotel project secures financing
- Austin's airport a step closer to a big 8-gate expansion
- Experts: Real estate and energy sectors most affected by crowdfunding
- Texas crowdfunding rules approved by Securities Board
- Austin apartment market on fire, but will it last?
- Austintatious Business Contest Round 4:
Email Subscriptions
![](https://webarchive.library.unt.edu/dentonfracking/20141029235426im_/http://assets.bizjournals.com/seattle/blog/techflash/techflash_250x60.jpg)
-
Channel Sales Executive Houston Business Journal | Houston, TX
-
Work For: ChannelAdvisor ChannelAdvisor | Morrisville, NC
-
MORTGAGE PROCESSOR R Bank | Round Rock, TX
-
Senior Account Manager JHL Company | Austin, TX
-
Insurance Agency Owner Brightway Insurance | Georgia, North Carolina, Texas
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.