Space Investment on the Rise: Space Forge's $30 Million Boost
Space Forge, a British space technology firm, secured $30 million in funding led by the NATO Innovation Fund to advance its satellite technology for materials manufacturing in space. Concurrently, EU regulators question the competitive stance of Starlink against SES's acquisition bid for Intelsat, valued at $3.1 billion.
In a significant move for the burgeoning space technology industry, British firm Space Forge has successfully raised $30 million. The funding round was spearheaded by the NATO Innovation Fund, underscoring investor interest in this dynamic sector.
Founded in 2018, Space Forge aims to revolutionize materials manufacturing by developing satellites capable of producing materials in space. This ambitious venture holds potential applications in the semiconductor industry, among others.
Meanwhile, EU antitrust regulators are scrutinizing the competitive landscape in the satellite sector. As SES pursues its $3.1 billion acquisition of Intelsat, regulators are questioning whether SpaceX's Starlink poses a credible challenge. The outcome of the inquiry will determine the future trajectory of this pivotal deal.
(With inputs from agencies.)
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