Ursa Major Secures $138 Million to Replenish U.S. Missile Arsenal

Colorado-based startup Ursa Major has raised $138 million in Series D funding to develop 3-D printing technology for the production of solid rocket motors, aiming to help replenish the depleted missile arsenal of the US. The company's expansion into defense comes as its commercial engine business struggled to compete with SpaceX. Ursa Major's new investors include RTX Ventures, the VC arm of defense giant Raytheon, which produces anti-aircraft and anti-armor missiles. The startup aims to address the industry consolidation that has left the US with just two large makers of solid-fuel rocket motors, Aerojet Rocketdyne and Northrop Grumman's Orbital ATK division.