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ABL Space raises $170M from T Rowe, Fidelity at $1.3 billion valuation

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An RS1 rocket booster undergoes acceptance testing.

ABL Space

Rocket builder ABL Space closed a $170 million round of funding, the company announced on Thursday, making it the latest private space venture to reach the unicorn valuation mark.

ABL raised the funds from T. Rowe Price and Fidelity Management, as well as a third unnamed investment firm and existing investors, at a valuation of $1.3 billion.

“We have always prided ourselves on capital efficiency,” ABL CEO Harry O’Hanley told CNBC, noting that the company has spent “well under” $50 million to date.

“If you compare us to other companies spending hundreds of millions of dollars developing launch vehicles, you should see how…



Source cnbc.com

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