Explorer 1 Fund and Eclipse led a $138m Series D round in Ursa Major.

Private equity firms Explorer 1 Fund and Eclipse led a $138m Series D round in Ursa Major, a privately funded company focused solely on rocket propulsion, with participation from RTX Ventures, BlackRock, Exor Ventures, Mack & Co, and XN. "In the year since our last funding round, Ursa Major has secured significant commercial and government customers, delivered dozens of flight-ready engines, introduced new engine concepts, and worked to address critical gaps in our nation's defense. This includes developing Lynx, a line of solid rocket motors that can deliver urgently needed capabilities. This investment will support scaling our production capacity to meet strong market demand, as well as continued technology innovation for our medium- and heavy-weight propulsion systems," Joe Laurienti, Ursa Major CEO and founder.