Portal Space Systems, a Bothell-based spacecraft startup led by former SpaceX propulsion engineer Jeff Thornburg, has locked in a $50 million financing round and is gearing up for a major expansion in the city this summer. The company plans to graduate from its current small development hub to a far larger manufacturing site as it ramps up production of its Supernova and Starburst spacecraft platforms. Local officials say the move could bring dozens of engineering and advanced-manufacturing jobs to Snohomish County.
The Series A, announced Thursday and reported by TechCrunch, was led by Geodesic Capital and Mach33, with Booz Allen Ventures, ARK Invest, AlleyCorp and others also joining the round. TechCrunch pegged the company’s valuation at roughly $250 million and reported that the funding is meant to speed up in-orbit demonstrations and production. Investors and company representatives say the cash gives Portal the runway it needs to move from one-off spacecraft builds to repeatable production.
Factory plans for Bothell
As reported by Puget Sound Business Journal, Portal is targeting a roughly 52,000-square-foot manufacturing plant in Bothell and aims to have the site online this summer. The company had previously announced a 50,000-square-foot facility in a June 2025 news release, saying that space would handle manufacturing, assembly, integration and testing work to support scaled production. The new plant sits a few miles from Portal’s smaller development hub and is intended to support the monthly production goals the company has laid out.
Solar-thermal propulsion and defense interest
Portal is betting on solar-thermal propulsion, a system that concentrates sunlight to heat propellant and deliver higher thrust than common electric thrusters, a design the company says can enable much faster orbital maneuvering. TechCrunch reported that Portal has drawn government backing, with roughly $45 million in strategic funding tied to the technology, which investors say underscores both commercial and defense demand. “We’ve spent the last year proving what’s possible. Now we’re scaling to deliver it,” Thornburg said in a company statement.
What it means locally
The state is already putting some skin in the game. Governor Bob Ferguson directed $350,000 from Washington’s Strategic Reserve Fund to help Portal scale its Bothell facility, according to the governor’s office. The award is intended to support building improvements, equipment purchases and workforce training and is expected to help create more than 100 new jobs in the near term. Economic development groups say the influx of money and manufacturing reinforces Snohomish County’s position as a growing aerospace cluster for the greater Seattle region…