Muon Space announced Aug. 20 that it had closed a $250 million Series C round, led by Eclipse Capital, bringing its total equity funding to more than $386 million and raising its valuation to an estimated $1.5 billion.

The five‑year‑old company, based in Mountain View, California, has deployed 11 satellites to date and has more than 50 satellites in development for customers, including 13 slated for launch within the next year. It operates a manufacturing facility in San Jose that is expected to produce up to 500 satellites annually by 2027, a tenfold increase over its prior capacity.

Muon plans to launch its first 500‑kilogram MuSat XL spacecraft for the Seattle‑based Hubble Network in 2025, followed by the Condor‑Ultra platform, a Starship‑class satellite offering 20 kilowatts of power and over 18 square meters of payload area, with deployment targeted for 2028. The firm says it maintains in‑house production of 95% of spacecraft components under its Mission Foundry model, integrating design, hardware, software and operations.

The funding comes after similar rounds for fellow California satellite startups Apex Space and K2, which raised combined financing valued at $2.3 billion and $6.8 billion, respectively. Muon’s investors include Galvanize, Google, Salesforce Ventures, and other venture firms.

The company says the new capital will support vertical integration efforts, including the 2023 acquisition of propulsion startup Starlight Engines, and positions it to expand across multiple high‑performance constellations.