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10/25, 6:52 PM (Source: TeleTrader)
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Rocket builder ABL Space reaches $2.4B valuation

Rocket manufacturer ABL Space announced on Monday that it has received $200 million from investors in its latest round of funding, increasing the company's valuation to $2.4 billion.

The company had previously raised a total of $420 million in funding, from investors which include T. Rowe Price, Fidelity Management, Venrock, New Science Ventures, Lynett Capital, and Lockheed Martin Ventures.

According to the company's statement, the funds will be used to "scale up the production" of its RS1 rockets and "conduct research and development of future systems."

Breaking the News / TT