Cowboy Space raised $275 million to build its own rockets for orbital data centers, targeting first launch before end of 2028

Cowboy Space Corporation closed a $275 million Series B round at a post-money valuation of $2 billion, led by Index Ventures, with participation from Breakthrough Energy Ventures, Construct Capital, IVP, and SAIC. The company had previously raised $80 million.

The company plans to build a purpose-built rocket with data centers integrated directly into the second stage, targeting satellites with a mass of 20,000 to 25,000 kilograms that generate 1 MW of power for just under 800 onboard GPUs. The rocket is expected to be slightly more powerful than SpaceX's Falcon 9.

CEO Baiju Bhatt said he could not find enough launch capacity from existing providers to scale an orbital data center business competitively, leading the company to develop its own rocket program and hire space industry veterans including former Blue Origin propulsion engineer Warren Lamont and former SpaceX launch director Tyler Grinnell.