K2 Space raises $500 million Series D at $6.8 billion valuation

K2 Space has raised $500 million in a Series D round at a $6.8 billion valuation to expand production of large, high-power satellites, Pulse 2.0 reported. Kleiner Perkins and ICONIQ led the financing, with participation from CapitalG, Lightspeed, Altimeter, Spark Capital, Sands Capital, ARK Invest, accounts advised by T. Rowe Price Associates, and other existing investors. The round lifts cumulative capital raised to more than $1 billion. The company said it has also secured more than $1 billion in signed commercial and government contracts. Programs include an initial order for 30 satellites for SES' planned meoSphere network, satellites for Anduril under the Golden Dome for America missile-defense initiative, and selection as satellite bus provider for the U.S. Space Force Protected Tactical Satcom-Global program. K2 operates a 180,000-square-foot factory in Torrance, California, with capacity for as many as 100 satellites a year and says about 85% of its satellite platform is produced internally. It plans a 100-kilowatt Giga-class satellite in the second half of 2028 and a multi-satellite Trinity mission in the second quarter of 2027.