Venus Aerospace, a cutting-edge US firm, has announced a successful $90 million (£71.5 million) Series B funding round, propelling its ambitious plans to commercialise its ultra-efficient Rotating Detonation Rocket Engine (RDRE). This substantial investment will primarily fund the testing and development of specific vehicle designs, targeting potential customers in the defence and space sectors.
Founded in 2020 by husband-and-wife team Sassie and Andrew Duggleby, the company initially aimed to develop clean-flying hypersonic jets for passenger transport. However, a pivotal flight test of their RDRE last year recalibrated their focus. According to CEO Sassie Duggleby, the successful demonstration led to unexpected demand from external parties interested in acquiring the engine technology itself, rather than the passenger vehicles it was intended for.
The RDRE represents a significant leap in rocket propulsion. Unlike traditional engines that burn propellants in a steady chamber, the RDRE generates a continuous, supersonic wave of combustion that rotates within a circular channel. This innovative design promises greater efficiency by wasting less propellant, a concept first theorised in the mid-20th century but only recently made viable through advancements in 3D printing and sophisticated simulations.
Andrew Duggleby, CTO, highlighted the engine's unique advantages, stating that its propulsion architecture combines efficiency, throttling capabilities, reusability, and manufacturability, meeting critical requirements for modern defence and space missions. The company is now concentrating on replacing solid rocket motors in various missiles with its advanced thruster and developing high-speed space vehicles with military applications.
The Series B funding round was led by Mercury Fund, with notable participation from Lockheed Martin Ventures, MESH, PEAK6, Draper Associates, Starboard Star Venture Capital, and Green Sands Equity. This capital injection is crucial for Venus Aerospace as it seeks to extend the operational duration of its engine. While current tests have achieved a maximum firing time of 32 seconds across 600 trials, customer requirements necessitate burns of at least six to fifteen minutes, a goal the new funding will help achieve.