All posts tagged: spend management

Orbex’s new funding may accelerate its Prime microlauncher into orbit

Orbex’s new funding may accelerate its Prime microlauncher into orbit

UK-based small launch developer Orbex got another boost from Scotland’s national bank and other investors as it gears up for its first orbital launch, though that mission still does not have a set date. Founded in 2015, Orbex is one of a handful of firms racing to develop the next generation of European launch vehicles. These companies are looking to fill the massive gap left by the retirement of the Ariane 5 and major delays to the Ariane 6 and Vega C rockets; the absence of these vehicles means there is essentially zero native launch capacity coming out of Europe. But the absence also means opportunity for Orbex. The company is developing what’s sometimes called a microlauncher: a two-stage vehicle called Prime that stands just 19 meters tall, designed to carry payloads up to 180 kilograms. The closest comparison is Rocket Lab’s Electron, which is a meter shorter but can carry up to 300 kilograms. To Orbex, this small stature is a benefit, not a drawback, and Orbex CEO Philip Chambers told TechCrunch via email …

Ramp raises another 0M co-led by Khosla and Founders Fund at a .65B valuation

Ramp raises another $150M co-led by Khosla and Founders Fund at a $7.65B valuation

Spend management startup Ramp has raised another $150 million at a post-money valuation of $7.65 billion, the company confirmed to TechCrunch today. New investor Khosla Ventures and existing backer Founders Fund co-led the raise, which also included participation from new backers Sequoia Capital, Greylock and 8VC. Other existing investors Thrive Capital, General Catalyst, Sands Capital, D1 Capital, Lux Capital, Iconiq Capital, Definition Capital, Contrary Capital also put money into the latest round. The raise is characterized as an extension of Ramp’s Series D, in which the fintech company raised $300 million at a 28% lower valuation of $5.8 billion. The latest capital infusion brings it back closer to the $8.1 billion valuation it had achieved in March of 2022. With this raise, Ramp has secured $1.2 billion in equity financing and $700 million in committed debt funding since its 2019 inception. In March 2023, co-founder and CEO Eric Glyman told TechCrunch that the company saw its revenue grow by 4x in 2022 — led by its fastest-growing segment of bill pay — but was not …