In the run-up to SPACEtalks in March, we're dropping in with a few updates on what's happening in space tech!
From the investment landscape to the latest tech, this is your place to stay in-the-know. Keep reading to get the full scoop.
Space Sector Investment Keeps Rising
In a Q3 report done by Seraphim Space, investments in space tech appear to remain at an all-time high - despite the economic downturn.
Total investments soared by 39% compared to the preceding quarter. Over $1.6 billion in private capital was invested, marking a significant increase from Q2's $1.16 billion and contributing to a total investment of $5.6 billion for the year as of September 30th.
UK’s Sole Provider of End-to-End Satellite Mission Management Awarded £5M to Expand
Open Cosmos, the only end-to-end satellite mission management provider in the UK, has been granted a £5 million fund from the UK government's Space Clusters and Infrastructure Fund (SCIF).
This follows their successful $50 million Series B funding round in September, making it the largest funding round raised by a UK space tech company this year.The fund aims to boost the accessibility and affordability of the UK's satellite market, reinforcing its global leadership in space activities.
Methane is the New Black
A Chinese methane-powered private rocket has taken headlines across the globe after sending satellites into space.
Developed by the start-up LandSpace Technology, the Zhuque-2 Y-3 rocket is spearheading initiatives to cut costs of rocket fuel by utilising a combination of liquid oxygen and methane as fuel. It is the first medium-size rocket to use methane as fuel in China and, with this successful launch, proves these rockets are reliable and a step closer to reaching the market.
UK Government Funds 23 Space Projects
The UK Space Agency has announced funding for 23 space tech projects.
The selected projects initiatives into the more-efficient utilisation of space. This includes applications such as weather prediction, climate-change monitoring, and space debris removal, employing various methods such as propulsion, sterilisation, in-orbit servicing, imaging, and more.
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