ABL Space, a rocket builder, announced Monday that it had closed a round of $200 million funding from existing investors. This raised the company’s value to $2.4 Billion.

ABL’s most recent financing was an expansion the round raised in MarchThe company stated that they were. T. Rowe Price (Fidelity Management), Venrock Capital, Lynett Capital, Lynett and Lockheed Martin Ventures were some of the investors who contributed to the funds. To date, the company has raised $420 millions.

ABL indicated that the company plans to use new funds for scale-up of its RS1 Rockets and to “conduct future research and development.”

CNBC reported that ABL President Dan Piemont stated in September that the company aims at launching its first RS1 rocket out of Alaska by December.

ABL is developing its line of RS1 rockets, which stand 88 feet tall and are designed to launch as many as 1,350 kilograms (nearly 1½ tons) of payload to low Earth orbit. Each launch will cost $12 million.

The price of RS1 places it in the middle market for commercial launches. Rocket Lab’sLaunching a smaller Electron cost $7 Million SpaceX’sFalcon 9 with a heavier weight costs $62million

According to the company, its manifest includes 14 customers as well as a backlog with 75 contracts launched. That includes a bulk orderStarting at Lockheed MartinThis was earlier in the year. A long-term contract was signed by ABL to provide up to 58 rockets in launch vehicles through 2029.