Yoon Shin, CEO of Perigee Aerospace, by the company's stand at IAC 2019 on Oct. 21.

Perigee Aerospace of Daejeong, South Korea, has raised around $12 million from Samsung Venture Investments, LB Investment and others to develop Blue Whale 1, a small launcher capable of carrying 50 kilograms to a 500-kilometer sun-synchronous orbit, CEO Yoon Shin said in an interview. 

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Caleb Henry is a former SpaceNews staff writer.