Frontier Aerospace Corp. has secured $10 million in series A funds from AEI HorizonX, a venture capital fund established by AE Industrial Partners and The Boeing Co.
The latest funding round will accelerate Frontier’s engine development activities, support manufacturing expansion and aid in development of a vacuum test facility, according to Frontier’s president, Jim McKinnon. “In the past, test facility availability has been by far the largest schedule driver. With this new investment, a modern test facility will be fully developed for rapid implementation supporting major upcoming development programs.”
Frontier was incorporated in 2014 with the objective of providing space-propulsion solutions. It now develops liquid rocket engines for in-space propulsion. Frontier said that its development approach produces reliable and extensively tested designs at a low cost.
The funding from HorizonX, which were announced on March 21, will be used for propulsion-system development.
According to the venture capital fund’s website, there are about 50 companies within its portfolio from markets including sustainability, future mobility, industrial tech and more.
The firm began as the dedicated venture capital arm of Boeing in 2017 before Boeing partnered with AE Industrial Partners in 2021.
Frontier’s development of flight thrusters has supported NASA’s Commercial Lunar Payload Services program.
The program, according to NASA, acquires lunar delivery services from American companies for payloads that advance capabilities for science, exploration or commercial development of the moon.