Intuitive Machines Secures $20M in Funding

Intuitive Machines, a lunar lander developer, has raised $20 million through a stock sale, as the company prepares for its first mission. The funding will be used for general corporate purposes and working capital needs, as well as to support the development of lunar lander missions and a NASA contract. The company is set to begin work on a $719 million contract with NASA in the fourth quarter. Intuitive Machines is moving forward with its first lander mission, IM-1, scheduled to launch in November, followed by two additional missions in 2024.