Moon Express raises $12.5 million
BREMEN, Germany — Moon Express, a former Google Lunar X Prize competitor developing commercial lunar landers, has raised $12.5 million to further development of its spacecraft for commercial and government customers. The company said in an Oct. 1 statement that it closed a $2.5 million bridge round led by Miami-based Minerva Capital Group. It has also raised $10 million of a planned $20 million Series B round, led by an undisclosed lead investor. “Moon Express has a unique and well thought out economic model that we think is compelling,” said Jocelyn Cortez-Young, managing partner and founder of Minerva Capital Group, in a statement. The Moon Express investment is the first reported investment in a space company by Minerva Capital Group, which describes itself as a fund that seeks “to enhance shareholder value while addressing the needs of underserved people and communities and drive inclusive economic growth” on its website . “Moon Express has great potential for social impact and