Impulse Space, a California startup founded by Tom Mueller, the first employee Elon Musk hired at SpaceX, has raised $500 million in a Series D funding round to expand its orbital transfer business.

Impulse Space Raises Major Funding Round

The Redondo Beach company said it will use the funding to scale production and deployment of its ultra-mobile spacecraft, which it says could help build the infrastructure for a broader off-Earth economy.

The round was co-led by 137 Ventures and Banner VC, with participation from Founders Fund, Lux Capital and Linse Capital. Reuters reported that the financing values Impulse Space at $4.26 billion and will help the company hire up to 200 new employees.

"We’re building more than spacecraft; we’re building the economic and technical engine that will power humanity’s expansion into space," Mueller, Impulse Space's founder and chief executive, said in the company's announcement. "From Earth orbit to the moon and beyond, the ability to move quickly, precisely and affordably on orbit is the fundamental capability that will unlock a true space age."

Mueller Targets Post-Launch Space Mobility

Reuters reported that Impulse develops orbital transfer vehicles and propulsion systems to move satellites faster once they are already in space.

The company has flown three missions so far and has secured hundreds of millions of dollars in customer contracts. The company offers Mira, a maneuvering spacecraft that already operates in orbit, and Helios, a larger transfer vehicle scheduled for its first flight in 2027.

The funding also comes weeks after the Pentagon selected Impulse Space and Anduril Industries to develop prototypes of space-based interceptors for President Donald Trump's planned "Golden Dome" missile defense shield.

SpaceX IPO Boosts Startup Interest

Investor enthusiasm for space startups has surged since SpaceX filed last month for what could become the largest IPO in history. Reuters notes that the filing, focused on Starlink, artificial intelligence infrastructure and reusable Starship rockets, has intensified interest in startups founded by former SpaceX executives and engineers.

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