Austin-area rocket maker Firefly Systems gets funding

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Dennis McCoy | Sacramento Business Journal

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.

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Christopher Calnan

Staff Writer- Austin Business Journal

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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.

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Christopher Calnan covers technology, finance and clean energy for the Austin Business Journal. Subscribe to the Energy Inc. newsletter