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- X-Bow Launch Systems
X-Bow Launch Systems Funding, Investors & Competitors
X-Bow Launch Systems has raised $134M across 4 funding rounds, most recently a $35M Series B in May 2025.
Last X-Bow Launch Systems funding round
$35M
Series B · May 2025
Cumulative funding X-Bow Launch Systems raised
$134M
across 4 funding rounds
Key investors in X-Bow Launch Systems
Crosslink Capital
Razor's Edge Ventures
Lockheed Martin Ventures
Boeing HorizonX Ventures
Balerion Space Ventures
Capital Factory
Broom Ventures
Lockheed Martin
About X-Bow Launch Systems
X-Bow Launch Systems is a Centennial-headquartered aerospace manufacturer producing solid rocket motors using additive manufacturing for commercial and defense applications. It delivers customizable motors for hypersonic test vehicles and satellite launches, with thrust capacities up to 50,000 pounds. The company operates a New Mexico test range and has contracts with the US Air Force. Founded in 2020, X-Bow scales production via 3D printing to cut costs by half compared to cast motors.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2G
Revenue model
Product sales
Sectors
X-Bow Launch Systems Funding History
X-Bow Launch Systems has raised a total of $134M across 4 funding rounds.
X-Bow Launch Systems' first fundraising round was a $2M seed round in January 2019. The most recent completed round was a $35M Series B in May 2025.
X-Bow Launch Systems funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| May 2025 | Series B | Lockheed Martin (lead); Arkenstone Partners; Event Horizon Capital; Capital Factory; Upsher Management Company; Razor's Edge Ventures; Balerion Space Ventures; Bravo Victor Venture Capital; Boeing HorizonX Ventures; Crosslink Capital | $35M | X-Bow Systems is a defense technology startup specializing in advanced manufactured solid rocket motors (SRMs) and related technologies, aiming to disrupt the duopoly held by Northrop Grumman and L3Harris through innovative additive manufacturing techniques like Advanced Manufacturing of Solid Propellant (AMSP). The company designs modular SRMs and small launch vehicles for orbital and suborbital services, positioning itself as an independent supplier to the Department of Defense and major primes. Headquartered in Albuquerque, New Mexico, with operations across multiple states, X-Bow is led by CEO Jason Hundley and a team of industry veterans. In May 2025, X-Bow closed its Series B funding round, raising over $105 million, with Lockheed Martin leading the strategic portion through a significant investment. Other participants included Boeing HorizonX Ventures, Razor's Edge Ventures, Upsher Management Company, Arkenstone Partners (also referred to as Arkenstone Capital), Balerion Space Ventures, Crosslink Capital, Event Horizon Capital, Bravo Victor Venture Capital, and Capital Factory. This round builds on prior investments, including Lockheed Martin's participation in a 2023 interim round, and enables a strategic agreement for X-Bow to supply SRMs to Lockheed's programs. The funds will expand production capacity, including a new energetics campus near Austin, Texas, to scale affordable SRM production amid rising munitions demand and industrial base concerns. X-Bow reported 2025 revenue of $64 million. The company has demonstrated SRM viability through test launches and secured contracts like a $13.9 million US Army partnership for GMLRS motors. Union Square Advisors served as financial advisor for the Series B. |
| Jul 2024 | Series B | Razor's Edge Ventures (lead); Balerion Space Ventures; Boeing HorizonX Ventures; Crosslink Capital; Lockheed Martin Ventures | $70M | X-Bow Launch Systems, headquartered in Albuquerque, N.M., with additional facilities in Texas, California, Alabama, Utah, Colorado, and Washington, D.C., develops non-traditional advanced manufactured solid rocket motors (SRMs), hypersonics technologies, and related energetics and launch services. Founded in 2016 and led by CEO Jason Hundley, a former Northrop Grumman engineer, the company leverages patented advanced manufacturing techniques to produce SRMs and hypersonics more affordably and scalably than traditional methods, positioning it as the nation's third supplier of SRMs. In July 2024, X-Bow closed over $70 million in its Series B funding round, led by Razor's Edge Ventures, with participation from Lockheed Martin Ventures, Boeing HorizonX Ventures (also referred to as Boeing Ventures), Crosslink Capital, and Balerion Space Ventures. Union Square Advisors served as the exclusive financial advisor. This followed a $27 million Series A in April 2022 involving some of the same investors, including Razor's Edge, Crosslink, and Lockheed Martin Ventures, plus Ingenuity Venture Fund. The funding supports completion of X-Bow's gigafactory campus in Luling, Texas—the country's second-largest SRM production facility by capacity—expansion of engineering and R&D facilities in New Mexico, and acceleration of hypersonic-capable vehicles and strategic/tactical SRM programs. The investment addresses gaps in the SRM industrial base exposed by global conflicts like Ukraine, where X-Bow identified needs early and built a lead over competitors. X-Bow reported significant growth in the prior year, securing multiple contracts for SRMs, energetics, and launch services, and recently acquired a firm that boosted its employee count above 200. Investors highlighted the company's dual-use technology, proprietary manufacturing, and potential to meet national security and defense demands amid a projected $100 billion global rocket and missile propulsion market by decade's end. Razor's Edge, managing $555 million across three funds, focuses on national security and high-growth aerospace startups. |
| Apr 2022 | Series A | Crosslink Capital (lead); Razor's Edge Ventures (lead); Broom Ventures; Lockheed Martin Ventures | $27M | X-Bow Launch Systems (also referred to as X-Bow Systems) is a defense technology company founded in 2016, specializing in advanced manufactured solid rocket motors (SRMs) using patented Additive Manufacturing of Solid Propellant (AMSP) technology, along with modular rocket motors and small launch vehicles for orbital and suborbital services. The company aims to disrupt the traditional SRM industry dominated by outdated processes, offering rapid prototyping, scalable production, cost reduction, and supply chain resilience through vertical integration of igniters, cases, and propellants. Headquartered in Albuquerque, NM, it operates facilities in Socorro, NM; Luling, TX; and other locations, supporting U.S. Department of Defense priorities with partnerships like the U.S. Navy, Air Force Research Laboratory, and U.S. Army. X-Bow focuses on modernizing the SRM industrial base for tactical/strategic motors, including the 'Rocket Factory in a Box' mobile system, to address production constraints and evolving threats. Later developments include a Series B round closed in May 2025 totaling over $105 million from investors including Razor's Edge Ventures, Crosslink Capital, Lockheed Martin, and others, funding a Texas energetics campus and defense technologies. A $13.9 million joint investment with the U.S. Army (supported by DoD OSC) was announced for next-gen GMLRS rocket motor development, and a $191 million contract for SRM manufacturing capabilities. |
| Jan 2019 | Seed | Ingenuity Venture Fund; ABQid; Crosslink Capital | $2M | - |
Who has invested in X-Bow Launch Systems?
14 investors have backed X-Bow Launch Systems across its funding rounds, including Crosslink Capital, Razor's Edge Ventures, Lockheed Martin Ventures, Boeing HorizonX Ventures, Balerion Space Ventures and Capital Factory.
Lead investors include Lockheed Martin, Razor's Edge Ventures and Crosslink Capital.
X-Bow Launch Systems Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Jan 2019 | ||
| 3 | Lead | Apr 2022 | ||
| 2 | Participant | Jul 2024 | ||
| 2 | Participant | Jul 2024 | ||
| 2 | Participant | Apr 2022 | ||
| -- | 1 | Participant | May 2025 | |
| 1 | Participant | Jan 2019 | ||
| -- | 1 | Participant | May 2025 | |
| 1 | Participant | May 2025 | ||
| 1 | Participant | May 2025 | ||
| 1 | Participant | Jan 2019 | ||
| 1 | Participant | May 2025 | ||
This data is available for Pro users. Sign up to see all 14 X-Bow Launch Systems investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by X-Bow Launch Systems
X-Bow Launch Systems has acquired 2 companies to date.
Last acquisition by X-Bow Launch Systems was on March 9th 2026. X-Bow Launch Systems acquired Evolution Space for undisclosed valuation.
Latest Acquisitions by X-Bow Launch Systems
| Description | Evolution Space is a Birmingham, Alabama-headquartered launch services provider founded in 2018 developing solid-propellant rockets and launch platforms for small satellites. The company designs and manufactures all components in-house including the E-1 orbital vehicle capable of 200 kg to low Earth orbit, targeting government and commercial missions with rapid turnaround. | Spencer Composites Corporation is a North Carolina-based specialist in advanced composite materials, offering design, fabrication, and testing for aerospace and defense components. Services encompass tooling, structural analysis, rheology testing, and production of carbon fiber parts for clients like NASA and Boeing. Established in 1984, it conducts seminars on filament winding and resin infusion techniques. |
| HQ Country | ||
| HQ City | Mojave, CA | Sacramento, CA |
| Deal Date | 9 Mar 2026 | 2 Jul 2024 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all X-Bow Launch Systems acquisitions and their M&A valuation multiples. Start Free Trial | ||
X-Bow Launch Systems Competitors
X-Bow Launch Systems competitors include listed companies like Palantir, GE Aerospace, RTX and Airbus, and private ones like Anduril and KNDS.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $4.5B | $1.5B | $424B | 58.1x | ||
| Publicly listed | $46B | $11B | $325B | 7.0x | ||
| Publicly listed | $89B | $15B | $261B | 3.1x | ||
| Publicly listed | $85B | $11B | $179B | 1.9x | ||
| Private | $2.2B | - | $61B | 27.7x | ||
| Private | $4.7B | - | $20B | 4.3x |
X-Bow Launch Systems Public Comps
X-Bow Launch Systems is still privately-owned, but its public comps include Palantir, GE Aerospace, RTX, Airbus, Rolls-Royce, Boeing, Lockheed Martin, General Dynamics, Howmet Aerospace and Mitsubishi Heavy Industries.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.5B | $1.5B | 92.6x | 58.1x | 285.0x | 97.4x | |||
| $46B | $11B | 7.3x | 7.0x | 30.2x | 29.1x | |||
| $89B | $15B | 3.3x | 3.1x | 19.7x | 19.4x | |||
| $85B | $11B | 2.1x | 1.9x | 16.0x | 14.3x | |||
| $28B | $11B | 5.5x | 5.2x | 14.8x | 22.4x | |||
| $89B | $7.4B | 2.0x | 1.9x | 24.7x | 37.2x | |||
| $75B | $8.7B | 1.9x | 1.8x | 16.1x | 13.1x | |||
| $53B | $6.3B | 1.9x | 1.8x | 16.0x | 15.1x | |||
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Common questions about X-Bow Launch Systems
| When was X-Bow Launch Systems founded? | X-Bow Launch Systems was founded in 2016. |
| Where is X-Bow Launch Systems headquartered? | X-Bow Launch Systems is headquartered in Albuquerque, NM, United States. |
| Is X-Bow Launch Systems publicly listed? | No, X-Bow Launch Systems is a private, VC-backed company. |
| How much funding has X-Bow Launch Systems raised? | X-Bow Launch Systems has raised $134M across 4 funding rounds. |
| What was X-Bow Launch Systems' last funding round? | X-Bow Launch Systems' last funding round was a $35M Series B in May 2025, led by Lockheed Martin. |
| Who are X-Bow Launch Systems' investors? | X-Bow Launch Systems' investors include Crosslink Capital, Razor's Edge Ventures, Balerion Space Ventures, Boeing HorizonX Ventures, Lockheed Martin Ventures, Arkenstone Partners, Ingenuity Venture Fund, Event Horizon Capital, Capital Factory, Upsher Management Company and 4 others. |
| Which companies are comparable to X-Bow Launch Systems? | Companies comparable to X-Bow Launch Systems include Palantir, GE Aerospace, RTX, Airbus, Anduril and KNDS. |
| How many companies has X-Bow Launch Systems acquired? | X-Bow Launch Systems has acquired 2 companies, including Evolution Space and Spencer Composites Corporation. |
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