A $1.5 million Small Business Innovation Research award was matched by $1.5 million from ATX Venture Partners and Revolution’s Rise of the Rest Seed Fund.
Space industry startups attracted $5.7 billion in financing in 2019, “shattering the $3.5 billion record set the previous year,” according to a new report by Bryce Space and Technology.
The European Union will provide 200 million euros ($222 million) to support Europe’s space industry, in the form of a loan to help fund development of the Ariane 6 and investment in space startups.
Seraphim Capital and Noosphere Ventures participated in the latest funding round for Italian space company D-Orbit.
Descartes Labs, a company that specializes in applying machine learning to geospatial datasets, raised $20 million in a Series B-2 bridge financing round.
Satellite communications startup UbiquitiLink has raised more than $12 million for its plan to launch a constellation of satellites to extend the reach of terrestrial mobile networks, the Falls Church, Virginia, company announced July 17.
The NewSpace sector is expected to grow from a $350 billion global industry in 2018 to a trillion dollar one by 2040, according to a Morgan Stanley report. Given these forecasts it is not clear how the market will expand, will there be more mergers and acquisitions, initial public offerings, initial coin offerings or just companies remaining private?
Most investors believe that the growth in funding for space ventures will continue for the near future, despite some concerns about parts of the industry and a lack of returns.
Investors continue to fund space startups at an accelerating rate, according to two firms that track activity in the sector.
Space transportation startup Momentus raised $8.3 million in seed funding for its business of offering satellite operators rides from one orbit to another, the Santa, Clara, California company announced Nov. 14.
Venture capitalists see no sign of a slowdown in funding of space-related startups even though only a handful of those companies have provided significant returns to their investors.
ICEYE raised $34 million in a Series B investment round, bringing the Finnish company’s total funding to $53 million, ICEYE announced May 24.
Despite a lack of “megadeals” involving space companies this year, investor interest in the industry remains strong thanks to several factors, according to one assessment.
A prominent venture capitalist who has been a key investor and supporter of commercial space efforts has left the firm he co-founded and is taking a leave of absence from the board of SpaceX.