PiggyGPT

Private companiesCovered

K2 Space

Torrance, CA · Founded 2022

K2 Space builds Mega-class satellite buses, 20 kW platforms carrying up to 3,000 kg of payload across low, medium and geostationary orbits, at a Torrance factory sized for 100 a year, for SES, the U.S. Space Force and Anduril’s Golden Dome interceptor team.

Profile

What it builds and who buys it

  • ·The Mega-class bus on the company’s satellites page offers 30 kW of peak payload power, 3,000 kg of payload mass, a 3 m by 2.7 m payload deck and 20 kW Hall-effect thrusters for an orbit raise from low to medium Earth orbit in under three months.K2 Space (company page)
  • ·The Giga-class bus on the same page is specified at 165 kW of array power, 15,000 kg of payload mass, a 6.2 m by 6.2 m deck and four 20 kW Hall-effect thrusters; the Series D release dates its introduction to the second half of 2028 as a 100 kW satellite.K2 Space (company page)
  • ·Incorporated in June 2022, the company emerged from stealth in March 2023 with an $8.5 million seed, seven hires from SpaceX, Maxar, Arianespace and Blue Origin, and a 15,000-square-foot Torrance factory in negotiation.CNBC, Mar 10, 2023
  • ·By October 2023 it held three Department of Defense contracts with a total potential value of $4.5 million, had grown from six to 18 people, and said ten Mega satellites fit a Falcon 9 fairing for 200 kW of power per launch.TechCrunch, Oct 17, 2023
  • ·At the Series A in February 2024 the company had 28 employees, about $6.5 million of Department of Defense contracts won over eight months, and plans for a 150,000-square-foot facility and more than 50 employees by year end.CNBC, Feb 13, 2024
  • ·The SBIR path ran from a 2023 award after the Tactically Responsive Space Challenge through multiple SBIR and STTR contracts in fiscal 2023 and 2024 to the $60 million STRATFI, by SpaceWERX’s account, which puts the bus at ten times the power of other low-cost buses and up to ten satellites per launch.SpaceWERX (U.S. Space Force page)
  • ·The $60 million STRATFI announced December 19, 2024 funds Gravitas with government money, SBIR matching funds and private funds, for extended operations in low Earth orbit, an orbit raise and extended operations in medium Earth orbit.Via Satellite, Dec 20, 2024
  • ·Heritage, the first mission, flew bus components on a D-Orbit ION carrier on SpaceX’s Transporter-12 in January 2025, ahead of Gravitas, which was to operate in medium Earth orbit and demonstrate an electric-propulsion orbit raise from low Earth orbit.Via Satellite, Feb 14, 2025
  • ·The 180,000-square-foot Torrance factory was open by the Series B in February 2025, when Washington Technology put headcount at 90 full-time employees, up from 25, external capital at $180 million, and the STRATFI’s $60 million at $30 million each from the Space Force and venture investors.Washington Technology, Feb 14, 2025
  • ·In July 2025 the company hot-fired its 20 kW krypton-fed Hall-effect thruster at full power in Torrance, said it would raise a satellite from low to medium Earth orbit in under 90 days, and said the January mission had validated the flight computer, reaction wheel, embedded avionics and flight software for the radiation environment of medium Earth orbit.Military Aerospace, Jul 9, 2025
  • ·SpaceNews reported in October 2025 that the company had bought a dedicated Falcon 9 for a 2027 mission sending three spacecraft to three orbits, to prove one design for all orbits; the company now calls it Trinity.SpaceNews, Oct 14, 2025
  • ·At the Series C in December 2025 the company had $500 million in signed commercial and U.S. government contracts, a factory sized for 100 satellites a year, and plans for operational commercial and national-security constellations from 2028. Gravitas was to fly the first 20 kW Hall-effect thruster in space, about four times anything flown, and twin 10 kW solar arrays.K2 Space (release via PR Newswire), Dec 11, 2025
  • ·Gravitas is a two-metric-ton satellite with a 40-metre wingspan and 20 kW of power carrying 12 undisclosed payload modules, including for the Department of Defense; the company puts its price at $15 million, plans 11 satellites over two years, and has a 100 kW design taped out on the factory floor.TechCrunch, Mar 19, 2026
  • ·Gravitas launched on SpaceX’s Transporter-16 rideshare, a Falcon 9 from Vandenberg at 4:02 a.m. PT on March 30, 2026 carrying 119 payloads; SES had multiple payloads aboard.Via Satellite, Mar 30, 2026
  • ·Gravitas then raised itself from low to medium Earth orbit in a self-funded demonstration. The $22.9 million Enterprise Space Terminal contract, announced July 31, 2026, runs through 2028 and covers the terminals, their integration on two K2 buses and launch, paid from fiscal 2025 research and development funds; Breaking Defense dates Trinity to February 2027, where the company says the second quarter.Breaking Defense, Aug 3, 2026
  • ·SES’s meoSphere pairs its own Luxembourg-built software-defined payloads with an initial 28 K2 platforms at about 8,000 km in four planes of seven, each delivering 20 kW, with pathfinder missions over three years and operation targeted for 2030; scaling beyond 28 depends on demand, and no value was stated. The company’s own release counts the initial tranche at 30.SES (partner release), Mar 24, 2026
  • ·On Anduril’s Golden Dome space-based interceptor team, with Impulse Space, Inversion Space, Sandia National Laboratories and Voyager Technologies under a Space Systems Command other transaction award, K2’s Mega-class satellites host the interceptors with up to 3,000 kg of payload and 30 kW of peak payload power; no value or equity component was stated.Via Satellite, May 5, 2026
  • ·K2 is the bus provider for the Space Force’s Protected Tactical Satcom-Global program, which its Series D release calls its first selection for a Pentagon program of record; SpaceNews reported the bus is for SES’s satellite, with Rocket Lab supplying Viasat’s.K2 Space (release via PR Newswire), Jul 30, 2026
  • ·The Space Force’s two Protected Tactical Satcom-Global prime awards, to Viasat and Intelsat, total $437.7 million for the two Swarm-1 satellites through launch and on-orbit checkout.Breaking Defense, Jun 9, 2026
  • ·At the Series D the company had raised more than $1 billion and signed more than $1 billion of contracts, builds more than 85 percent of its platform in-house, and sizes the Torrance factory at up to 100 satellites a year.K2 Space (release via PR Newswire), Jul 30, 2026
  • ·Headcount was nearly 300 in July 2026, from two at founding, when the company opened a Seattle-area engineering office beside a Washington, D.C. office for policy and strategy.K2 Space (release via PR Newswire, on Yahoo Finance), Jul 1, 2026

Founders and leadership

  • Karan KunjurCo-founder and chief executive

    Ten years at Boston Consulting Group on turnarounds and acquisitions, then a vice president at the AI startup Text IQ through its 2021 acquisition, which the company’s page calls a nine-figure exit.K2 Space (company page)

  • Neel KunjurCo-founder and chief technology officer

    About six years at SpaceX developing and integrating avionics for the Dragon spacecraft, and a former mission director there, then at the electric-aircraft company Kittyhawk.K2 Space (company page)

  • Pieter KranenburgVice president, national security

    A founding member of SpaceX’s Starshield organisation, which he helped grow from 15 people to over 300, leading capture and end-to-end program execution.K2 Space (company page)

  • John PlumbVice president, strategy

    The Pentagon’s first Assistant Secretary of Defense for Space Policy, overseeing space warfighting and missile defense.K2 Space (company page)

  • Jason WilloughbyVice president, manufacturing

    Led Dragon 2 integration and test, Starship operations displays and Stage 0 at SpaceX, and the bring-up of factory automation.K2 Space (company page)

Prospects, after the Enterprise Space Terminal award

Prepared by PiggyGPT, as of Oct 11, 2026

  • ·Demand is on the record as a signed-contract total and named programs: more than $1 billion signed by July 2026, an initial 28 meoSphere platforms for SES (30 by the company’s count) with no value stated, the bus for SES’s Protected Tactical Satcom-Global satellite under prime awards of $437.7 million, a place on Anduril’s Golden Dome interceptor team with no value stated, the $22.9 million Enterprise Space Terminal contract and the $60 million STRATFI, half of it private money. A signed total is not revenue, and SES says scaling beyond the first 28 depends on demand.
  • ·No revenue figure is on file. Payload quoted the chief executive at the Series D on revenue numbers that are big and growing fast, without a figure, and no release or named outlet states one.Payload, Jul 31, 2026
  • ·The capital path reads as private. The $500 million Series D at $6.8 billion in July 2026 was more than twice December’s $3 billion mark, by Reuters’ account, with Kleiner Perkins, ICONIQ and CapitalG new; Reuters framed it within a wave of space investment ahead of SpaceX’s listing. Nothing on file from the company or the named press speaks to a listing of its own.Reuters (via Yahoo Finance), Jul 30, 2026
  • ·The build-out is equity-funded and dated: a factory sized for 100 satellites a year, Trinity in 2027, the Giga-class in the second half of 2028, a Seattle-area engineering office and nearly 300 staff. The one cost-share on file is the STRATFI’s $30 million from the Space Force; every other factory and mission figure is the company’s own money.
  • ·One satellite has flown. TechCrunch reported before the Gravitas launch that the chief executive expected markets to judge any anomaly quickly, and that the cost case rests on a Falcon 9 launch at about $7.2 million against $600,000 once Starship carries outside customers. The sources on file also differ on the SES count, 28 against 30, and on Trinity’s date, February against the second quarter of 2027.TechCrunch, Mar 19, 2026
  • ·Every named customer is SES or the U.S. government: SES across meoSphere and the Protected Tactical Satcom-Global bus, the Space Force across the STRATFI and the Enterprise Space Terminal contract, and Anduril as the prime on the Golden Dome team. The Anduril tie carries no disclosed equity, and the 12 Gravitas payload customers beyond the Department of Defense and SES are undisclosed.
  • ·For the acquisition read, the one cited tie to a plausible buyer is Anduril, the prime for which K2’s buses host the interceptors; no interest in a deal has been reported. Against it, the company raised $500 million in July 2026 at $6.8 billion and is spending it on capacity. The posture is watch.

A summary of what the figures on this page add up to, prepared by PiggyGPT from the record on file and its cited sources. Not the Street's view, and not advice.

Funding

Last valuation

$6.8B

Post-money, Series DK2 Space (release via PR Newswire), Jul 30, 2026

Last round or tender

$500Mraised

Series DK2 Space (release via PR Newswire), Jul 30, 2026

Led by Kleiner Perkins and ICONIQ, with CapitalG, Lightspeed, Altimeter, Spark Capital, Sands Capital, ARK Invest and accounts advised by T. Rowe Price Associates. Reuters put the mark at more than twice the December round’s. Capital raised to date passed $1 billion. EDGAR holds no Form D under K2 Space Corp for this round or for any round after the 2023 seed.

Latest revenue figure

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Valuation to revenue

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Post-money valuation by round

$0$1B$2B$3B$4B$5B$6B$7BMar '26Jun '26Sep '26$6.8B Series D
DateRoundRaisedPost-money
Jul 30, 2026Series DLed by Kleiner Perkins and ICONIQ, with CapitalG, Lightspeed, Altimeter, Spark Capital, Sands Capital, ARK Invest and accounts advised by T. Rowe Price Associates. Reuters put the mark at more than twice the December round’s. Capital raised to date passed $1 billion. EDGAR holds no Form D under K2 Space Corp for this round or for any round after the 2023 seed.$500M$6.80B
Dec 11, 2025Series CLed by Redpoint, with accounts advised by T. Rowe Price Associates, Hedosophia, Altimeter, Lightspeed and Alpine Space Ventures. The release states the $3 billion figure as the valuation and puts capital raised to date at more than $450 million.$250M$3.00B
Feb 13, 2025Series BAnnounced February 13, 2025 and co-led by Lightspeed Venture Partners and Altimeter Capital, with Alpine Space Ventures and First Round Capital returning; the row cites Washington Technology’s report of the next day, which puts the amount at approximately $110 million and external capital since inception at $180 million. No valuation was stated.$110M—
Feb 13, 2024Series ALed by Altimeter Capital, joined by Alpine Space Ventures. The company declined to specify a valuation.$50M—
Oct 17, 2023Seed extensionUnnamed in the report: $7 million of additional capital bringing the total raised to $16 million, with Alpine Space Ventures among the new investors. No valuation was stated.$7M—
Mar 10, 2023SeedLed by First Round Capital and Republic Capital, with Countdown Capital, Boost VC, Also Capital, Side Door Ventures, Earthrise Ventures, Spacecadet VC and Pathbreaker Ventures, by CNBC’s account of the company’s emergence from stealth. The Form D signed March 15, 2023 records $8,528,471 sold to 48 investors from February 28, 2023, the whole offering. First Round’s page names a 2022 pre-seed with no amount or date, so it has no row. No valuation was stated.$9M—

Primary capital across the rounds on file: $926M

Revenue

No citable revenue figure on file.

Secondary venues

  • Clarity (formerly Hiive)public page seen Oct 11, 2026

    Clarity Price $182.47, as of Oct 11, 2026

    Clarity calls the figure a model-derived indicative estimate calculated daily; the page dates it no further than a "last updated" line reading August 28, 2026. Its round table puts the Series D at $154.41 a share.

  • Nasdaq Private Marketpublic page seen Oct 11, 2026

    No price on the public page.

    No price: the page says the company has no publicly available stock price and carries no dated estimate. Its funding table shows a Series D of July 30, 2026 at $487 million with the valuation masked, below the $500 million the company announced.

  • Caplightpublic page seen Oct 11, 2026

    No price on the public page.

    No MarketPrice: the page reads "No recent secondary market data is available" and shows an estimated valuation of $6.8 billion at the top and $3.0 billion in its FAQ.

  • Jarsypublic page seen Oct 11, 2026

    No price on the public page.

    A tokenized pre-IPO platform. The public page shows a $6.8 billion latest valuation and no token or share price, and says its valuations may reflect past financing rounds and may not represent a price at which anyone can transact.

A venue is listed when its public page named the company on the date shown. A price is the figure that page showed, under the venue’s own name for it and dated as the venue dated it; it is a level the venue publishes, not a trade. Nothing is recorded from behind a login.

Reads

Acquisition: Watch

A cited tie to a plausible buyer: a strategic partner, an investor stake, a tender offer, a stated appetite. Nothing reported.

Prepared by PiggyGPT, as of Oct 11, 2026

Signals

  • Feb 13, 2024K2 Space raised a $50 million Series A led by Altimeter Capital, with Alpine Space Ventures, and declined to state a valuation.CNBC, Feb 13, 2024
  • Dec 19, 2024K2 Space announced a $60 million Space Force STRATFI for Gravitas, its first Mega-class satellite, mixing government funds, SBIR matching funds and private money.Via Satellite, Dec 20, 2024
  • Feb 13, 2025K2 Space announced a Series B of about $110 million co-led by Lightspeed and Altimeter, taking external capital to $180 million.Washington Technology, Feb 14, 2025
  • Dec 11, 2025K2 Space announced a $250 million Series C led by Redpoint at a $3 billion valuation, after $500 million of signed contracts.K2 Space (release via PR Newswire), Dec 11, 2025
  • Mar 24, 2026SES announced meoSphere, a medium-Earth-orbit network starting with an initial 28 K2 Space platforms, with pathfinder missions over three years and operation targeted for 2030; no value was stated.SES (partner release), Mar 24, 2026
  • May 5, 2026Anduril named K2 Space to its Golden Dome space-based interceptor team under a Space Systems Command other transaction award, with K2’s Mega-class satellites hosting the interceptors; no value or equity component was disclosed.Via Satellite, May 5, 2026
  • Jun 11, 2026SpaceNews reported K2 Space will supply the bus for SES’s satellite in the Space Force’s Protected Tactical Satcom-Global program, with Rocket Lab supplying Viasat’s.SpaceNews, Jun 11, 2026
  • Jul 30, 2026K2 Space announced a $500 million Series D led by Kleiner Perkins and ICONIQ at a $6.8 billion valuation, with more than $1 billion raised and more than $1 billion in signed contracts.K2 Space (release via PR Newswire), Jul 30, 2026
  • Jul 31, 2026The Space Force awarded K2 Space $22.9 million to host Enterprise Space Terminal laser-link tests on two of its buses through 2028.Breaking Defense, Aug 3, 2026

Named counterparties

  • Anduril IndustriesPrime on the Golden Dome space-based interceptor award for which K2’s Mega-class satellites are the host spacecraft, a cited platform integration. No interest in a deal has been reported.Via Satellite, May 5, 2026

Counterparties are named for a cited reason: a partnership, an investment, or a stated appetite. Naming is not a forecast.

A summary of what the figures on this page add up to, prepared by PiggyGPT from the record on file and its cited sources. Not the Street's view, and not advice.

Sources

Researched Oct 11, 2026