Bell Gully has advised Balerion Space Ventures on its lead investment in the Series B capital raising by New Zealand–Dutch space transportation company Dawn Aerospace.
Dawn Aerospace closed its US$25 million Series B funding round with a US$195 million post-money valuation. US-based venture capital company Balerion Space Ventures led the round, with other participating investors including Mana Ventures, ANA Future Frontier Fund, Green Eight Capital, Seven Peak Ventures, NZVC, Alpha Funds, Gaingels and Crosscourt, along with individual and existing investors.
Bell Gully partner Dean Oppenhuis said the firm was pleased to have supported Balerion on its first investment into New Zealand. “Balerion is one of the biggest space industry venture capitalists in the U.S. and it is exciting to see its interest in a company that has emerged from New Zealand's space ecosystem”, he said.
The Bell Gully team included partners Dean Oppenhuis and Glenn Shewan, associates Kellee Candy and Camille Tabary, and lawyers Nicholas Goodman, Bronte Tuffery and Diana Tran.
Dawn Aerospace is seeking to build sustainable space transportation and provides flight-proven, non-toxic chemical satellite propulsion systems. It has also flown its Aurora suborbital spaceplane at supersonic speeds, the first civil aircraft to fly supersonic since the Concorde.
The Series B funding is intended to finance its global rollout, scaling commercial and operational teams in the US and Europe to support its international customer base.
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