Eclipse raises $1.23bn in fresh funding
April 11, 2023
By Chris Forrester
A venture capital fund has raised $1.23 billion with an aim to be the “next Elon Musk” in the space business. Eclipse Ventures, based in Palo Alto in the heart of Silicon Valley, California, is establishing two new funds both of which are designed to help seek out new ventures including space-related businesses..
The two portions will see $720 million earmarked in early-stage businesses as well as start-ups that are under Eclipse’s own portfolio of interests.
The other will see $510 million in what Eclipse sees as ‘growth stage’ business that also fit into Eclipse’s overall aims.
The fresh cash takes Eclipse’s portfolio under management to some $4 billion.
One of its biggest investments to date is on Bright Machines, a still-private company that looks to ensure that all the different components in a factory are connected to a central control system that can monitor and manage their operations in real time. Eclipse has also put cash into Enovix, a company that went public through a SPAC (special purpose acquisition company) last year and is producing lithium-ion batteries for small devices like smart watches, as well as 3D cell technology and batteries for electric vehicles.
Eclipse also aims to power the elements of the new Industrial Evolution, and unlock the solutions necessary to build the New Economy, and provide the operational expertise and support that founders innovating in these industries need. By working toward a clear vision and demonstrating enduring, joint resolve to achieve at every step, together, founders and Eclipse can consequently deliver on the promise of technology to solve the hard problems humans face as a global society.