True Anomaly, a Colorado-based startup building space interceptors for President Donald Trump’s sweeping Golden Dome project, raised $650 million, the company said on Tuesday. The four-year-old startup is now valued at $2.2 billion and has raised a total of $1 billion. True Anomaly plans to use the capital to scale operations and nearly double its workforce to 500 employees by the end of the year. “Space is a war-fighting domain, and our adversaries are building space war-fighting capabilities at a scale that we’ve never seen,” CEO Even Rogers told CNBC. The space race is heating up globally, driven by investor enthusiasm for the long-awaited public market debut of Elon Musk’s SpaceX. Private space companies are also benefitting from heightened interest, with startups Vast and Sierra Space recently closing funding rounds of $500 million or more. Demand for defense tools in a tense geopolitical climate is creating a massive opportunity for space firms, especially those making satellites and tools capable of tracking and intercepting rockets at closer range. President Trump is planning a massive $185 billion ballistic interceptor system, dubbed the Golden Dome, and has called to hike the defense budget to $1.5 trillion in 2027.

Full report : True Anomaly, which makes autonomous spacecraft and software for the US Space Force, raised a $650 million Series D at a $2.2 billion valuation, bringing total funding to $1 billion.

For more see the OODA Company Profile on True Anomaly.