Canada Rocket Company Develops Reusable Rocket for Launch by 2032
Canada Rocket Company, founded by entrepreneur and former hedge fund analyst, is developing a reusable medium-lift launch vehicle to establish sovereign orbital capability.
Headquartered in Canada, the startup has secured $22.5 million in funding to build a domestic alternative to international launch providers, targeting its first launch attempt for 2032.
The company’s shift toward aerospace follows the founder’s previous exit from the property management software market. After selling Yuhu to HappyCo in 2022, the founder sought a venture that avoided the typical product-market fit struggles of software startups, turning instead to the physical engineering challenges of rocket manufacturing, according to a profile in Canadian Business.
A primary driver for the firm’s formation was the federal government’s 2025 budget announcement, which pledged more than $180 million toward domestic launch capabilities. This commitment provided the necessary proof point to attract capital for a project of this scale, Canadian Business reported. The company has since raised $22.5 million, with $8.3 million sourced from the Department of National Defence.
“I have a crazy idea. Want to chat?” the entrepreneur emailed Canadian investors, told Canadian Business.
The venture is developing the R-2, a reusable rocket designed to lift more than 12,500 kilograms into sun-synchronous orbit, according to company specifications. By using established manufacturing methods rather than inventing new technology, the firm aims to reduce development risk and accelerate its path to orbit.
The strategic focus on reusability is intended to lower long-term launch costs and compete with global players. As commercial space markets are projected to reach $2 trillion by the mid-2030s, launching satellites from home soil is important for national security.
Securing domestic talent remains a persistent challenge in a country lacking a deep history of orbital launch programs. The company is actively recruiting engineers with international experience to bridge this gap, according to its corporate site.
The company is currently developing a test facility in London, Ontario, and plans to build a 500,000-square-foot manufacturing plant in the Greater Toronto area. Aerospace America reported that the firm is preparing for engine component hot-fire tests scheduled for December 2026.
The market includes established international firms, but the company’s R-2 model is designed specifically to match the carrying capacity and reusability of the Falcon 9. This capability is intended to support major domestic infrastructure, such as the Telesat Lightspeed satellite network. The company aims to operate as a commercial entity rather than a government-subsidized Crown corporation, seeking to remain viable through global market competition.
While the firm has assembled a team with experience from SpaceX, Blue Origin, and Rocket Lab, the path to 2032 remains defined by rigorous development milestones.