Investments in space startups remained at $6 billion in the second quarter of 2023, as reported by Space Capital, a venture capital firm. This stability is encouraging, considering the recent funding slump caused by the bleak economic outlook.
The second quarter witnessed an 11% increase in the number of space deals, totaling 91, compared to the previous quarter. This suggests growing investor confidence in the space industry, despite ongoing economic uncertainties.
Space Capital noted in the report that companies are adapting to the end of the “era of free money.” Nevertheless, the space industry continues to attract significant investment, with several companies securing substantial funding rounds.
Noteworthy deals in the second quarter include $1.4 billion for satellite operator OneWeb, $1.1 billion for rocket company Relativity Space, and $900 million for satellite constellation company Planet.
Overall, the report indicates a gradual stabilization of the space industry following a period of volatility. Although investors remain cautious, they are not abandoning the sector entirely, which bodes well for future space exploration and innovation.