Xcor Aerospace has received a boost to the production of its sub-orbital space vehicle thanks to a $5m round of equity funding.
Venture capitalists, Silicon Valley entrepreneurs and the co-owner of the Chicago Cubs baseball team joined in financing the California-based company.
Xcor said interest in the company had been strong thanks to a $60m backlog of orders for purchase of and flights on the Lynx Mark I, which uses unique re-usable non-toxic rocket technology.
Following the investment the directors of the company now include early internet investor Esther Dyson, former venture capitalist Stephen Fleming, chairman of the Space Studies Institute Lee Valentine, and company founders Jeff Greason and Dan DeLong.
The Lynx vehicles will be piloted, two-seater shuttles which take-off and land horizontally designed for research and development missions, private spaceflight and micro-satellite launch.
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