LEONID Provides $500,000 SBIR Financing in support of US Hypersonic Propulsion

LEONID is supporting a startup engineering firm pursuing the development of air-launched hypersonic cruise missiles in association with the Defense Advanced Research Projects Agency, with Air Force support.

The facility is secured by the firm’s billed accounts receivable and Small Business Innovation and Research (SBIR) contracts, with funding earmarked for working capital, namely the further development ofIT infrastructure and talent acquisition.

“Our team was immediately impressed by the technology being developed, and the mission-critical nature of our client’s work. It is an honor to help support these brilliant engineers” James Parker, Co-Founder of LEONID, said. “And we look forward to providing them with the scalable funding that meets their needs in a high-speed, low friction manner.”