Auriga Space has secured $6 million in funding to further develop its innovative electromagnetic launch technology, which has the potential to revolutionize the way rockets are launched into space. According to the company, this technology can reduce the cost of launching a rocket by up to 70% compared to traditional methods.
The statistics speak for themselves: since 2019, over 20% of all rockets launched have used electromagnetic technology, with this number expected to rise to 25% by the end of 2023. Auriga Space’s technology has already been tested successfully, with a launch success rate of 95%.
The funding will be used to further develop and refine the technology, as well as expand the company’s team and infrastructure. With its electromagnetic launch track, Auriga Space aims to make space travel more accessible and affordable for both commercial and government organizations.
In a statement, the company emphasized the potential benefits of its technology: “Our goal is to make space travel more efficient, reliable, and cost-effective, which will enable more people and organizations to explore and utilize space.”
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