Cowboy Space, Darkhive Detail Their Series B Rounds

Why It Matters

Both fundraises signal growing investor confidence in space‑based AI compute and rapid‑deployment defense tech, sectors poised to address critical capacity and security challenges.

Key Takeaways

• Cowboy Space raises $275M Series B, valuing firm at $2B
• Series B includes Index Ventures, SAIC, IVP, Blossom Capital
• Cowboy aims to beam solar power from orbit to Earth
• Darkhive secures $30M Series B to scale drones and software
• Darkhive won $49.7M APFTI contract, largest award in program history

Pulse Analysis

Cowboy Space Corp., founded by Robinhood co‑founder Baiju Bhatt, just closed a $275 million Series B that lifts its post‑money valuation to roughly $2 billion. The funding, led by Index Ventures, will finance the launch of the company’s first power‑beaming satellite and the development of an AI‑focused data‑center module in low‑Earth orbit, built in partnership with NVIDIA. By marrying satellite power generation with on‑orbit AI compute, Cowboy is targeting the looming capacity crunch in terrestrial data centers, positioning itself at the intersection of clean energy and high‑performance computing.

Darkhive, an aerospace and defense startup founded by Special Operations veterans, raised $30 million in a Series B led by RTX Ventures. The capital will accelerate production of its modular drones and software‑defined hardware, technologies that can be fielded quickly for military missions. In April, the firm secured a $49.7 million award from the Defense Department’s Accelerate the Procurement and Fielding of Innovative Technologies (APFTI) program—the largest ever granted—underscoring the Pentagon’s appetite for rapid‑deployment solutions. Partnerships with the Air Force, DIU and the Pentagon’s research office broaden its acquisition pipeline.

The twin fundraises illustrate a broader shift in venture capital toward space‑based infrastructure and defense‑grade autonomy. Investors such as Index Ventures, SAIC and RTX Ventures see strategic value in technologies that de‑risk terrestrial bottlenecks—whether it’s AI compute bandwidth or battlefield situational awareness. As satellite constellations mature and the U.S. defense budget prioritizes rapid fielding, companies that can deliver power, processing or unmanned systems from orbit or near‑the‑ground are likely to attract further capital. The next wave of financing may hinge on demonstrated commercial payloads and proven defense contracts.