Rocket Lab has announced that it has added more funding in order to expand its plans to go into outer space for a number of reasons.

The company has now raised $148 million

in total thanks to its latest initiative that netted the company an extra $75 million. Rocket Lab exists with the purpose of launching multiple journeys into space in order to expand our knowledge of our planet and the universe.

The small space giant has yet to launch its first test mission into space, but the added funding will help make this a reality. Rocket Lab’s trips are expected to be relatively cheap compared to other space trips, and the company hopes to launch a trip a week eventually.

Its orbital Electron rocket weighs about 500 pounds and it will launch into outer space sometime within the next month or two, according to the company. Following this, Rocket Lab will eventually include commercial trips into outer space.

The company recently finished an important part of its objectives as it completed a launching station in an area of New Zealand that is very quiet and away from people in order to execute its plans without disturbing anyone.

The type of trips that will be launched by Rocket Lab includes multiple and frequent satellite launches that will help gather information in an effective and efficient manner.