Welcome to Spotlight on Dynamism, where we shine a light on CEOs and companies at the intersection of innovation and national interest. Covering sectors from defense to public safety and supply chain, we delve into the stories of mission-driven leaders committed to civic responsibility, whose ventures not only cross verticals but also redefine business models in their quest to address critical national challenges. This month, we turn our focus to Sassie Duggleby of Venus Aerospace ("Venus"), a pioneer in the development of advanced propulsion technologies. Venus specializes in high-speed innovation across aviation, space, defense, and beyond, delivering the only single-engine solution capable of achieving takeoff to Mach 5+ speeds. In a rapidly evolving world where technological advancements are essential, Venus exemplifies the use of cutting-edge propulsion systems to ensure progress, efficiency, and global connectivity in aerospace. Venus is not just an innovator, but rather an essential component in advancing our future. Please read our full interview with Sassie below.
Since its founding in 2020, Venus Aerospace has emerged as a trailblazer in the development of advanced propulsion technologies. The company’s RDRE and VDR2 engines are pushing the boundaries of what is possible in high-speed flight across aviation, space, defense, and beyond.
The Venus RDRE (Rotating Detonation Rocket Engine) offers unmatched efficiency and a compact design, with a variety of applications for both space and defense. The VDR2 (Venus Detonation Ramjet) integrates RDRE and ramjet capabilities, delivering the only single-engine solution capable of takeoff to Mach 5+ speeds.
Venus’ groundbreaking engine technology will eventually power the Stargazer M4, the world’s first Mach 4, reusable commercial aircraft. As the pinnacle of Venus’ innovation, Stargazer represents the ultimate realization of their advanced propulsion systems.
Sarah "Sassie" Duggleby
CEO
“Our ultimate goal is to develop a commercial plane that could take off from Los Angeles, create a sonic boom over the Pacific, fly across the U.S., and land in Washington, DC, with another boom over the Atlantic – all in about 45 minutes.”
Sassie Duggleby, CEO
Sassie Duggleby is the CEO and co-founder of Venus Aerospace. Before launching Venus, she was a Launch Systems Engineering and Mission Management Consultant at Virgin Orbit, where she developed and tested launch software and telemetry systems, helping to launch rockets from the wing of a 747. She has spent her career growing multiple high-tech startup businesses, including fiber-optic test (Luna Technologies), biotech (Ecolyse / Phage Biocontrol), and hazardous trailer manufacturing (Exosent). An engineer and MBA, she is a serial deep tech entrepreneur passionate about women in tech. She is an honoree of Inc’s 2023/2024 Female Founders 200 list and recently created the “Bada$ Women in Aerospace” networking group. Sassie is also the mother of two and an avid lover of outdoor activities. She named herself Sassie at age 2, and it stuck.
- Hometown: Plano, Texas
- University: Texas A&M University (BS), Virginia Polytechnic Institute and State University (MBA)
- Favorite Book: The Moment of Lift: How Empowering Women Changes the World, Melinda Gates
Lazard: What inspired you to take the leap into hypersonic transportation and found Venus?
SD: It all began during my husband’s deployment to Japan as an engineering duty officer in the U.S. Navy Reserves, specializing in ship repair (a unique role for a PhD rocket scientist, but that's a story for another time!). One Sunday afternoon, we were sitting on our balcony, overlooking Tokyo Bay in Yokosuka, discussing whether we should fly back to the U.S. for my grandmother’s birthday, considering it was a 13-hour flight.
That conversation sparked the idea to commercialize a new rocket engine technology that my husband had been tracking as both a professor at Texas A&M and an employee at Virgin Orbit. Six years ago, the idea of putting this engine on a plane and being home in an hour seemed laughable. Today, that engine is operational and producing thrust, promising advancements in national security, in-space propulsion, and our ultimate dream: commercial high-speed transportation. After our deployment, I joined Virgin Orbit in Southern California, diving into the world of rockets and aerospace – an industry in which I had no prior experience.
“Six years ago, the idea of putting this engine on a plane and being home in an hour seemed laughable. Today, that engine is operational and producing thrust, promising advancements in national security, in-space propulsion, and our ultimate dream: commercial hypersonic transportation.”
Lazard: Tell us about the ability of Venus' key technologies to make one-hour global travel a reality.
SD: Our key technology is based on the Rotating Detonation Rocket Engine (RDRE) and a second engine called the Venus Detonation Ramjet (VDR-2), which combines a RDRE with Ramjet Technology. The rotating detonation rocket engine is an absolute breakthrough in engine technology. Imagine lighting a line of gasoline on a table; it burns, and the flame front moves across. Now, if that flame front moved faster than the speed of sound, you'd have detonation.
Detonation is a more efficient combustion process, extracting more energy from propellants. If you can establish a detonation wave in an annulus, that continuously rotates as you add more propellant – you achieve a far more efficient engine. This concept has been theorized since the early 1980s, but it's only now becoming operational due to advances in printing technology, high-speed sensors, and years of dedicated development. In addition, since we never leave the atmosphere, we can harness more of the air to power a ramjet with our VDR2 – creating even more efficiency.
“VDR-2 is capable of achieving Mach 6+ speeds from takeoff without any moving parts – considered the holy grail of high-speed flight.”
Lazard: In the emerging hypersonic transportation sector, what differentiates Venus from the pack? Why do you win?
SD: Venus stands out in the hypersonic transportation sector because VDR2 is capable of achieving Mach 6+ speeds from takeoff without any moving parts – considered the holy grail of high-speed flight. Our entire premise is if you want to go fast, you need a new engines. Traditional jet engines start melting at Mach 2.5, but ramjets can’t start until Mach 3.5ish. So that gap between Mach 2.5 & 3.5 is called the thrust gap. Venus has solved that by using an entirely different technology – the RDRE combined with a ramjet, efficiently leveraging air at lower altitudes, bridging the performance gap and setting us apart from competitors in the race for hypersonic flight.
“Our ultimate goal is to develop a commercial plane that could take off from Los Angeles, create a sonic boom over the Pacific, fly across the U.S., and land in Washington, DC, with another boom over the Atlantic – all in about 45 minutes.”
Lazard: How does your technology serve both commercial travel and the government, and what are the broader applications for space exploration?
SD: Our ultimate goal is commercial travel, but we're currently focused on addressing critical needs for the U.S. Department of Defense as they work to catch up with Russia and China in hypersonic technologies. We service the government by testing materials, sensors, and cameras designed for hypersonic speeds and by supplying engines for high-speed programs. In terms of space exploration, our engines show promising applications for boosting satellites from low Earth orbit to medium Earth orbit or serving as thrusters for satellites or lunar landers. A key advantage of our engines is their use of hydrogen peroxide and jet fuel – room-temperature storable propellants that remain stable in space, unlike cryogenic fuels.
Lazard: Could you share a success story that exemplifies the value Venus brings to the aerospace industry?
SD: At the end of the day, having a more efficient engine translates to a longer range or greater payload capacity. There are countless applications for this advancement. I like to compare this to the shift from propellers to jet engines, which dramatically changed travel by making destinations like Hawaii accessible to the masses.
Similarly, transitioning from jet engines to the VDR-2 will enable the next level of high-speed flight, revolutionizing air travel and space exploration with the efficiency and capabilities needed for significant advancements.
“The market potential for this technology is enormous, valued at approximately $200 billion per year. While the journey may be costly, the potential impact and market size are astounding, and we believe our engine can truly revolutionize and change the world.”
Lazard: Looking ahead, where do you see Venus in the next five to 10 years?
SD: Our immediate goal is to transition from having an engine on a test stand to having an engine in flight. Our ultimate vision, however, remains centered around Stargazer, the original idea for founding the company: enabling global travel within two-hours. The market potential for this technology is enormous, valued at approximately $200 billion per year. While the journey may be costly, the potential impact and market size are astounding, and we believe our engine can truly change the world.
Lazard: What major trends do you foresee that will accelerate the adoption of hypersonic technologies?
SD: When we started Venus, nobody was really talking about hypersonics. Since then, the landscape has changed dramatically. Russia has deployed hypersonic systems against Ukraine, and China has developed hypersonic vehicles. Maintaining America's technological lead (with NATO and allied nations) is crucial, and hypersonics is at the forefront of this technology. Moreover, there's a significant shift back to hardware and manufacturing within the U.S. This trend aligns well with Venus’ focus on in-country development and manufacturing.
“It only takes one 'yes.' I received this advice early on. In our seed round, we pitched to around 180 people, but we got that one 'yes,' and it set us off to the races.”
Lazard: As an advocate for women in technology and an honoree on Inc’s 2023/2024 Female Founders 200 List, what advice would you give to women looking to enter the aerospace or technology industries?
SD: Women often face the challenge of feeling like they need to know everything; however, there are many resources available for starting companies, so don't feel like you have to have all the answers. Fundraising as a female founder is statistically more challenging. Only 2% of venture capital dollars go to female founders, and about 19% to co-ed founding teams. It's important to be aware that it might be more difficult, and you may need to knock on more doors. But remember, it only takes one "yes." I received this advice early on. In our seed round, we pitched to around 180 people, but we got that one "yes," and it set us off to the races.
Lazard: You've grown multiple high-tech startup businesses across diverse fields. What has been the common thread or philosophy that guided you through these varied ventures?
SD: While I’ve been involved with many endeavors, our philosophy at Venus is distinctive. We named the company "Venus" after the only female planet and the goddess of love, embodying the idea of genuinely caring for our employees. Our goal is to hire the best, keep the best, and help the best become even better. While technology is important, the culture we cultivate is equally significant.
Select Lazard Transactions
Lazard Contacts
Christopher Britton
Co-Head & Managing Director, Venture & Growth Banking
Disclaimer
The information herein has been prepared by Lazard based solely upon publicly available information. These materials are preliminary and summary in nature and do not include all of the information that the Company should evaluate in considering a possible transaction. Portions of the information herein may be based upon certain publicly available statements, estimates and forecasts with respect to the anticipated future performance of the Company or other companies described herein. Lazard has relied upon the accuracy and completeness of the publicly available information used in connection with preparation with these materials, and has not assumed any responsibility for any independent verification of such information or any independent valuation or appraisal of any of the assets or liabilities of the Company or any other entity, or concerning solvency or fair value of the Company or any entity. With respect to financial forecasts, Lazard has assumed that they have been responsibly prepared on bases reflecting the best currently available estimates and judgments as to the future financial performance of the relevant entity; we assume no responsibility for and express no view as to such forecasts. Lazard has not had access to financial forecasts prepared by managements of the Company or the other companies described herein in connection with the preparation of these materials, which could be materially different from the forecasts utilized in connection with preparation of these materials. The information set forth herein is based upon economic, monetary, market and other conditions as in effect on, and the information made available to us as of, the date hereof, unless indicated otherwise. Nothing herein shall constitute a commitment or undertaking on the part of Lazard or any related party to provide any service. These materials do not constitute tax, accounting, actuarial, legal or other specialist advice, and Lazard shall have no duties or obligations to you in respect of these materials or other advice provided to you, except to the extent specifically set forth in an engagement or other written agreement, if any, that is entered into by Lazard and you.
