<p>Venture capitalist <strong>Tim Draper</strong> said Monday he is backing <strong>Cowboy Space Corp.</strong>, a space and energy startup led by <strong>Robinhood Markets Inc.</strong> (NASDAQ:HOOD) co-founder <strong>Baiju Bhatt</strong>, after the company raised a new funding round to pursue orbital data centers powered by its own rockets.</p>



<h2><strong>Draper Praises Bhatt's Big Space Bet</strong></h2>



<p>&#34;WOW… just WOW! As you all know, I love BIG ideas,&#34; Draper wrote on X. &#34;When @BaijuBhatt first came to me about Robinhood, I thought it was extraordinary that he wanted to take on Wall Street. Now he wants to conquer AI, Space, and Energy…!&#34; He added, &#34;Well, if anyone is going to do this, I am betting on THIS guy! I am proud to be in the first round of investments in both of your startups. Go get’em @CowboySpaceCorp.&#34;</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote><p lang="en" dir="ltr">WOW… just WOW!   As you all know, I love BIG ideas.  When @BaijuBhatt  first came to me about Robinhood, I thought it was extraordinary that he wanted to take on Wall Street.  Now he wants to conquer AI, Space, and Energy…!  Well, if anyone is going to do this, I am betting… https://t.co/NjpF7ScPGv</p>— Tim Draper (@TimDraper) May 11, 2026</blockquote>
</div></figure>



<p>Bhatt announced Monday that his startup closed a $275 million Series B round and rebranded as Cowboy Space Corporation. The company plans to build orbital data centers and the rockets needed to launch them. The round valued Cowboy Space at $2 billion after the investment and was led by Index Ventures, with participation from Breakthrough Energy Ventures, Construct Capital, IVP and SAIC, according to a TechCrunch report.</p>



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<h2><strong>Aetherflux Pivoted Toward Orbital Computing</strong></h2>



<p>Before the round, Cowboy Space had raised $80 million from investors including Index, Breakthrough Energy Ventures, Andreessen Horowitz, Draper Associates and New Enterprise Associates. Bhatt founded the company in 2024 as Aetherflux, initially aiming to collect solar power in space and beam it back to Earth. The company later pivoted toward using that orbital energy for space-based computing.</p>



<p>Bhatt says that limited launch capacity pushed the company toward developing its own rockets. Cowboy Space expects its first launch before the end of 2028 and plans to build data centers directly into the rocket's second stage, so the upper stage becomes the satellite once in orbit.</p>



<h2><strong>Rocket Plans Challenge SpaceX And Blue Origin</strong></h2>



<p>The strategy puts Cowboy Space on a collision course with <strong>SpaceX</strong> and <strong>Blue Origin</strong>, though Bhatt believes that the market is large enough for several winners. He told TechCrunch, &#34;The prize here, and the size of this market, is big enough that there’s room for many players to succeed.&#34;</p>



<p>Cowboy Space has hired former Blue Origin propulsion engineer <strong>Warren Lamont</strong> and former SpaceX launch director <strong>Tyler Grinnell</strong>. The company is also developing its own rocket engine while still planning a previously announced satellite launch aboard a SpaceX rocket later this year.</p>



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<p><em>Photo by Andrei Armiagov via Shutterstock</em></p>

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<p>Venture capitalist Tim Draper is backing Cowboy Space Corp., a startup led by Robinhood co-founder Baiju Bhatt, after it raised $275 million in a Series B funding round. The investment values Cowboy Space at $2 billion and aims to develop orbital data centers powered by its own rockets. Draper praised Bhatt's ambitious vision, stating he is excited to support both of Bhatt's ventures. Cowboy Space plans to launch its first rocket by 2028 and is competing with SpaceX and Blue Origin in the space market.</p>

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Tim Draper Goes 'Wow' And Is 'Betting' On Robinhood Co-Founder Baiju Bhatt's Cowboy Space After Startup Closes $275 Million Funding Round