Bill Gates, Reid Hoffman‑Backed iRocket Will Go Public In $400M SPAC Deal With Wilbur Ross's Firm–Shockwave Rocket Sets 2027 Launch

Launching,A,Rocket,From,A,Rocket,Launcher,In,The,Fields.

In a move that feels like science fiction come to life, Innovative Rocket Technologies Inc., the small New York launch startup backed by Bill Gates, Reid Hoffman, and Eric Schmidt through Village Global, announced on June 2 that it is gearing up for a $400 million special purpose acquisition company merger with Wilbur Ross's BPGC.

The company aims to bring its fully reusable Shockwave rocket to market by 2027, despite never having flown to space, Bloomberg says.