TLDR:
- Investors are once again showing interest in space technology, with funding for VC-backed space tech startups reaching nearly $6 billion this year.
- Big rounds, such as the $40 million Series A for AstroForge and the $1.5 billion Series F for Anduril Industries, have contributed to this increase in funding.
Investors are once again showing interest in space technology, with funding for VC-backed space tech startups reaching nearly $6 billion this year. Last month, the asteroid mining startup AstroForge secured a $40 million Series A led by Nova Threshold. This funding has helped space tech startups approach last year’s total funding amount in just two-thirds of the year. Additionally, the massive $1.5 billion Series F for Anduril Industries has significantly bolstered space tech funding numbers, despite the company’s focus on defense technology.
Notable rounds in the U.S. include a $200 million raise for Astranis to support its Omega satellite program, a $95 million Series B for Apex to increase satellite bus production, and a $117 million Series B for Hadrian, which focuses on producing components for the space and defense industries. Chinese space tech startups have also raised significant amounts, with five of the top seven rounds exceeding $100 million. Despite this, the Chinese venture market saw a decline in funding in Q2 due to government regulations and political tensions with the West.
This surge in funding for space tech startups is closely tied to the defense tech sector, which has also seen increased interest and record-high funding levels. With many space tech startups having defense applications, there is a strong correlation between the two industries. As long as defense tech continues to thrive, space tech startup funding is expected to remain strong.
