Mikhail Kokorich, Founder and CEO, Momentus. Photo credit: Steve Jurvetson on Flickr, licensed under Creative Commons

Momentus, a space transportation company, is in discussions to go public by the way of a reverse merger with Stable Road Acquisition Corp, a special purpose acquisition company (SPAC), according to a report [paywall] from Bloomberg. Momentus is said to be targeting a valuation of nearly $1 billion from its reverse merger. Stable Road Acquisition Corp, the reported SPAC mergee, raised $172.5 million in its public market debut in November last year, money that’ll be transferred to Momentus in the case of a merger.

Momentus, a Y Combinator alum, is a space transportation company with ambitions of providing “last-mile delivery” in space by transporting satellites and cargo to specific orbits using a specially made vehicle named the Vigoride. The Vigoride is akin to a delivery truck that’ll bring a package to its final destination after a large cargo aircraft delivers it to an airport, hence the “last-mile” postulation. In this case, Vigoride is a space vehicle that’ll deliver satellites and space cargo to specific orbits after both the vehicle itself and the satellites are both sent up via a rocket. So far since its inception, Momentus is known to have sealed $40 million worth of customer contracts.

As a private company, Momentus is known to have raised $34 million in funding, with backers including the likes of Y Combinator, Lerner Enterprises, Liquid 2 Ventures, and the University of Wyoming Foundation. Momentus was founded in 2017 by Mikhail Kokorich, a serial space entrepreneur who has previously started three space companies.

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