Muon Space has raised $250 million in a Series C round led by Eclipse Capital, valuing the satellite-constellation developer at $1.5 billion, according to a source familiar with the matter. Google, Salesforce Ventures and Wellington Management participated, bringing the company’s total equity funding to more than $386 million. The financing will support manufacturing expansion, infrastructure and workforce growth as demand increases for Earth observation, secure communications and orbital computing. Muon launched seven satellites in the first half of 2026, taking its total to 11 across six launches, and says it has a 100% mission success record. The company’s San Jose facility is designed to produce up to 500 satellites annually by 2027, while its customer backlog exceeds 50 satellites. CEO Jonny Dyer expects government and commercial business to account for roughly equal shares within the next couple of years. Muon has launch contracts through 2029, is seeking dedicated capacity beyond SpaceX’s rideshare program and is considering a public listing as early as next year, although Dyer said an IPO in 2027 is unlikely without greater revenue visibility.