(K2 Space Photo via PRNewswire)K2 Space, a California-based satellite company that recently set up an engineering hub in Seattle, has announced a $500 million funding round at a $6.8 billion valuation. Since its founding in 2022, K2 Space has raised more than $1 billion in capital and secured an equivalent amount in contracts. While many satellite companies focus on miniaturization, K2 Space is going big on satellite mass and power. Karan Kunjur, co-founder and CEO of K2 Space, said the new capital validates the company’s core strategy. “This latest round validates that thesis and gives us the capital to accelerate scaling as we prepare to build up to 100 large satellites per year.”