NewRocket

Company Overview

Snapshot

Founded in March 2014 by Moti Elyashiv and Zohar Schlagman, NewRocket operates with 1-10 employees. The company has raised $3.2 million across 3 funding rounds from 3 investors. In December 2021, NewRocket secured an A Round of funding from Incubit Ventures and Consensus Business Group (CBG).

Business overview

NewRocket specializes in developing proprietary gel technology for rocket engines, offering a stable, non-toxic, and high-performance propellant. This gel propellant combines the benefits of liquid and solid propellants, ensuring safety in use and transport while providing controllable thrust. The technology is designed to meet stringent industry regulations and targets applications in the aviation, space, and power generation markets, operating within the Aerospace, Defense & HLS sector.

Strategic signal

In March 2022, NewRocket's gel-based rocket fuel technology, PowerGel, was highlighted for its stability, non-toxicity, and cost-effectiveness, attracting investor interest and positioning the company for expansion into the US market. This signals a strong market validation for their innovative propulsion solution and indicates a strategic focus on global market penetration, particularly within the New Space sector, with ambitions for significant annual sales turnover.

Company Intelligence Q&A

What is NewRocket's core technology?

NewRocket develops proprietary gel technology for rocket engines, enabling a stable, non-toxic, and high-performance propellant that combines the advantages of liquid and solid propellants.

When did NewRocket last raise funding?

In December 2021, NewRocket secured an A Round of funding from Incubit Ventures and Consensus Business Group (CBG).

What was a key development for NewRocket in March 2022?

In March 2022, NewRocket's gel-based rocket fuel technology, PowerGel, was recognized for its stability, non-toxicity, and cost-effectiveness, attracting investors and setting the company on a path to enter the US market.

What was the investment NewRocket received in December 2020?

In December 2020, NewRocket received a $1 million investment from Consensus Business Group (CBG) to further develop its clean, non-toxic gel fuel rocket engines.

Which organizations are associated with NewRocket's technology development?

NewRocket is associated with the Technion – Israel Institute of Technology, where the gel propulsion technology was initially developed by Prof. Benny Natan.