Rocket One Reports $8.4 Million Cash, Targets AI Chips and Space-Defense Computing
Updated
Updated · PR Newswire · Jun 15
Rocket One Reports $8.4 Million Cash, Targets AI Chips and Space-Defense Computing
1 articles · Updated · PR Newswire · Jun 15
Summary
$8.4 million in cash and cash equivalents as of June 12 gives Rocket One funding to pursue its post-Hoth Therapeutics pivot into advanced computing, AI infrastructure, space systems and defense technologies.
Two exclusive license deals signed May 15 anchor that strategy around spintronic and nanomagnetic computing, which Rocket One says could cut power use, ease memory bottlenecks and improve AI hardware efficiency.
The company is also building an advisory bench with spintronics researcher Supriyo Bandyopadhyay, retired Major General Malcolm B. Frost and former NASA astronaut Shane Kimbrough.
Rocket One still holds its legacy biotech assets, including HT-001, whose Phase 2 pharmacokinetic portion is complete, and is weighing partnerships, licensing, joint ventures or asset sales for that portfolio.
The update underscores an early-stage bet: Rocket One sees commercial, orbital and defense potential in the licensed technology, but said it still needs substantial capital and technical validation before commercialization.