California-based rocket launch startup Astra will go public via a SPAC by merging with Holicity at a $2.1 billion valuation. The deal is expected to generate $500 million for Astra. It has raised $100M since its inception in 2016 from investors such as Salesforce CEO Marc Benioff.
Zoom In: Astra builds 40 feet tall rockets capable of carrying small orbital payloads of up to 100 kg charging $3M per launch, considerably cheaper compared to Rocket Lab and SpaceX. Its Rocket 3.2 successfully reached space in December and it has $150M of "booked launch revenue under contract" from 10 major customers, including NASA and the Pentagon. Astra aims to launch rockets on a monthly basis by the end of this year, and on a daily basis by the year 2025.
