Firefly Systems Inc., a Cedar Park-based space launch startup, reported raising $19 million of a planned $38.2 million financing.
Firefly Systems relocated its headquarters to Cedar Park last year. In September 2015, it successfully test-fired its first rocket engine design.
The brief experiment, conducted at Firefly’s test facility in Briggs, north of Austin, was the first in a long line of tests necessary before the rocket can be used to loft payloads into low-Earth orbit. The engine fired for about two seconds while firmly anchored to a stationary test stand, but it was enough to prove company engineers had the basics of their design on the right track.