Ursa Major, a leader in advanced propulsion systems, has secured a combined $150 million in new capital through a $100 million Series E equity round and $50 million in committed debt financing. The funding round was led by Eclipse, with participation from new and existing investors including Woodline Partners, Principia Growth, XN, and Alsop Louie Partners.
The investment arrives on the heels of significant commercial momentum, with the company announcing over $115 million in new bookings through the first three quarters of 2025. These contracts span key government and commercial partners such as the U.S. Department of Defense, the U.S. Air Force Research Laboratory, Stratolaunch, and BAE Systems.
“Our investors are backing a proven trajectory. This year alone, we’ve successfully flown hypersonic systems, advanced our solid rocket motor programs, and validated our space propulsion technology, all while building a record portfolio,” said Dan Jablonsky, CEO of Ursa Major. “This capital provides the tools to solve critical industrial base and national security challenges at the pace our nation requires.”
The funding will be directed toward scaling manufacturing capacity across Ursa Major’s core product lines. A primary focus is the rapid fielding of its throttleable, liquid-fueled propulsion systems for hypersonic applications and space-based defense. Concurrently, the company will expand production of its solid rocket motors and systems for in-space mobility, addressing what it identifies as urgent gaps in the modern defense industrial base.
“Ursa Major is executing where others have struggled: scaling manufacturing and supply chains to deliver hypersonic and advanced propulsion capabilities at an industrial clip,” said Lior Susan, Founding Partner at Eclipse. “We are proud to support their mission to strengthen national security with real capability, built domestically and deployed urgently.”
The company has also bolstered its governance with the recent addition of former Northrop Grumman Chairman and CEO Ronald Sugar and veteran technology investor Gilman Louie to its corporate board. This move underscores Ursa Major’s transition from a development-stage startup to a scaled aerospace and defense prime contractor, a journey accelerated by recent successful test flights of its hypersonic engines and tactical missiles.
