Space Forge's Stellar Fundraising and EU's Satellite Scrutiny
Space Forge, a British space technology company, raised $30 million with NATO's backing to advance satellite development. Concurrently, EU regulators are scrutinizing SES's bid for Intelsat, questioning if SpaceX's Starlink is a legitimate competitor. These developments highlight significant movements and interest in the space technology sector.
In a significant development in the burgeoning space technology sector, Britain's Space Forge has successfully raised $30 million. This major investment was driven by the NATO Innovation Fund, underscoring the growing investor interest in space tech companies. Founded in 2018, Space Forge aims to manufacture materials in space for industries like semiconductors, leveraging the new capital to advance its satellite projects.
Meanwhile, in Europe, the spotlight turns to a $3.1-billion proposal by satellite company SES to acquire Intelsat. EU antitrust regulators are currently gauging whether Elon Musk's SpaceX-owned Starlink could present genuine competition to these established players. Customer feedback, expected by Monday, will guide the EU's decision on whether to approve the deal, impose conditions, or initiate a full-scale investigation.
These parallel headlines demonstrate the dynamic nature of the space technology field, driven by innovation and strategic investments, impacting both the European regulatory landscape and the broader global market.
(With inputs from agencies.)
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