Iconiq backs K2 Space at $6.8 billion on satellite tech - Bloomberg

K2 Space, a satellite startup focused on large, high-power satellites for communications and defense, reportedly raised $500 million in a Series D round at a $6.8 billion valuation. The round was co-led by Iconiq and Kleiner Perkins, with participation from Lightspeed, Alphabet’s CapitalG, and Altimeter. The company says it has more than $1 billion in signed contracts, split about evenly between government and commercial customers, including the U.S. Space Force. The news highlights strong investor appetite for the space sector, especially firms aiming to lower satellite costs and support emerging use cases such as broadband, military sensors, and future space-based data centers. For public markets, the article is more sentimentally supportive of space and defense-adjacent technology themes than directly price-moving for a listed security.