Hanwha Asset Management has made an additional investment in US space transportation startup Impulse Space, joining a $308 million funding extension as it expands its portfolio of overseas deep-tech companies, the firm said Thursday.
Founded in 2021 by Tom Mueller, a SpaceX founding member and former chief technology officer, Impulse Space develops spacecraft that transport satellites and cargo to their designated orbits after launch.
Hanwha Asset participated through a project fund backed by four Korean institutional investors. The latest financing brings Impulse Space's Series D funding total to $808 million.
Hanwha Asset said it was the only Asian investor to participate in the company's funding rounds since its Series B financing in 2024.
The investment adds to Hanwha Asset's deep-tech portfolio, which includes stakes in SpaceX and OpenAI. The firm is targeting further investments in space, artificial intelligence, robotics, next-generation energy and defense technology, while seeking to expand co-investment opportunities with Korean institutions.
"Our long-standing relationships with global deep-tech companies, built through early-stage investments, made this deal possible," Hanwha Asset Management CEO Im Dong-jun said.
"We will leverage our investment experience and networks in the US AI and deep-tech sectors to offer customers new investment products."
silverstar@heraldcorp.com