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☆ Investing in Space: Pentagon's satellite constellation awards near $10 billion
▼ + stars: | 2024-01-18 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +11 min

Now we're pushing $10 billion in awards, to build more than 400 satellites, with seven companies in the mix. York Space has been tapped to make more satellites than anyone but Northrop Grumman, to the tune of $1.3 billion. – The Wall Street Journal / Deere Hyperspectral satellite imagery company Pixxel opens Bengaluru facility, a 30,000-square-foot facility in India for satellite manufacturing. – KeyBancBoldly goingKurt Vogel named as NASA associate administrator for the agency's space technology directorate, effective immediately, previously having been the director of space architectures at the agency. – NASAfor the agency's space technology directorate, effective immediately, previously having been the director of space architectures at the agency.

Persons: Yasin Ozturk, CNBC's Michael Sheetz, – Northrop, Lockheed Martin, L3Harris, Northrop Grumman, you've, Momentus, John Plumb, –, Artemis, – SpacePolicyOnline, Tom Mueller's, Redwire, KeyBanc, Kurt Vogel, Chiara Pedersoli, Marco Fuchs, – OHB, – OHB Frank Di Pentino Organizations: SpaceX, . Space Force, Cape Canaveral Space Force, Anadolu Agency, Getty, Space Force, Space Development Agency, – Northrop Grumman, Lockheed, York, Space, Lab, Sierra Space, CNBC, CNBC NASA, Boeing, NASA, NASA ESA, Science, Technology, Industry, ISS, – NASA SpaceX, Deere, Street, Deere Deere, KKR Locations: Cape, Florida, United States, U.S, Brazil, Bengaluru, India

☆ Space investment rebounded in 2023 with heavy sector M&A, report says
▼ + stars: | 2024-01-16 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Investment in the space sector bounced back last year, rebounding closer to the record high of 2021, according to a report Tuesday by New York-based Space Capital. The firm's fourth-quarter report found that space infrastructure companies brought in $2.6 billion of private investment during the period. Top raises during the fourth quarter included funds announced by space companies Firefly Aerospace, Ursa Major, D-Orbit, Stoke Space and True Anomaly. The quarterly Space Capital report divides investment in the industry into three technology categories: infrastructure, distribution and application. Space infrastructure companies have been resilient through the recent downturn.

Persons: Chad Anderson, Anderson Organizations: Infrastructure, Space Capital, Firefly Aerospace, Ursa, Space, CNBC Locations: New York

☆ Investing in Space: On satellites, the invisible backbone of global industry
▼ + stars: | 2023-10-19 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

Shipping company Maersk posted record annual earnings for 2022 but warned that profits are set to tumble this year as a "more balanced demand environment" emerges. CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. GPS, geospatial intelligence and satellite communications are the invisible backbone that powers the world's largest industries today." That's the core of Space Capital managing partner Chad Anderson's pitch to new investors about the value of the space industry – and I think the "invisible backbone" element serves as an important reminder. Satellites have been, are, and will continue to be a critical backbone of the world's industries – even if we don't notice.

Persons: CNBC's Michael Sheetz, Chad Anderson's, David Sherry, Sherry, Starlink, We've, Lloyd Organizations: Shipping, Maersk, Space Capital, Starlink, Mitsui, Eastern Pacific Shipping, Polembros Shipping Locations: Danish, Mitsui O.S.K

The July-September period, which analysts usually see it as a weak quarter, saw a 17% rise in funding to $3 billion for 103 companies, venture capital firm Space Capital said in the report. The upbeat figures could mean that investors are returning to startups that could tap government funding and develop tech crucial to space programs. The companies funded in the third quarter included Axiom Space which raised $350 million, and Sierra Space which saw an inflow of $290 million. "Despite continued headwinds in financial markets, the world is waking up to the importance of space-based technologies," Space Capital said. Reporting by Jaspreet Singh and Akash Sriram in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Jaspreet Singh, Akash Sriram, Shilpi Majumdar Organizations: Space Capital, Investments, Reuters, Thomson Locations: Bengaluru

☆ Space sector investors followed government contracts in the third quarter, report says
▼ + stars: | 2023-10-16 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Investment in the space sector, especially from venture capital, is consistently flowing into companies that are pursuing and winning government contracts, according to a report Monday by New York-based Space Capital. The firm's third quarter report found that space infrastructure companies brought in $1.6 billion of private investment during the third quarter. The quarterly Space Capital report divides investment in the industry into three technology categories: infrastructure, distribution and application. Venture capital accounted for 50% of the third quarter's investment in space infrastructure, tracking with the historical trend of VCs representing the primary contributors to space investment. Space Capital highlighted the trend of companies and investors chasing government funds as apparent in sub-sectors within space infrastructure, particularly in emerging markets such as space stations and the moon.

Persons: Chad Anderson, Anderson, it's Organizations: International Space Station, Investment, New, Space Capital, CNBC, Space, Infrastructure, Venture, Logistics Locations: New York

July 17 (Reuters) - Investments in space startups stayed flat in the second quarter, a positive sign for a sector that faced a funding slump over the past few quarters due to the grim economic outlook, a report by venture capital firm Space Capital showed. The April-June period saw $6 billion in investments in 91 firms, compared with $2.2 billion in the previous three months and $5.9 billion a year earlier, the report, released on Monday, stated. That marks a big improvement from declines of 53% and 52% in the first quarter and 2022, respectively. "The era of free money is over and companies are beginning to adapt to this new normal," Space Capital said, adding that the pickup in financial markets has helped the space industry. Reporting by Akash Sriram and Jaspreet Singh in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Chad Anderson, Akash Sriram, Jaspreet Singh, Pooja Desai Organizations: Space, Reuters, Federal, Nasdaq, Thomson Locations: Bengaluru

☆ Private investment in space firms shows 'signs of stabilization' in Q2 after steady decline
▼ + stars: | 2023-07-17 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Private investment in space companies, especially from venture capital, showed "signs of stabilization" in the second quarter after steady declines over the past year, according to a report Monday by New York-based Space Capital. Investment in space companies had dropped steadily since its peak in 2021, as companies felt the macroeconomic effects of a tightened funding environment and rising interest rates. Space infrastructure companies brought in $4.9 billion of private investment in the second quarter, including the close of Maxar's recent go-private sale at a $4.1 billion equity value. The quarterly Space Capital report divides investment in the industry into three technology categories: infrastructure, distribution and application. Infrastructure includes what would be commonly considered as space companies, such as firms that build rockets and satellites.

Persons: Chad Anderson Organizations: New, Capital, Investment, Space Capital, Space, Infrastructure Locations: New York

☆ Investing in Space: India is the industry's 'sleeping giant,' according to an expert behind the international Artemis Accords
▼ + stars: | 2023-06-29 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

Indian Ambassador Taranjit Sandhu, right, talks with NASA Administrator Bill Nelson, after having signed the Artemis Accords on June 21, 2023. CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Gold described India as "a sleeping giant in the space world that is awakening" – albeit "one that's been snoring loudly." Gold believes India's bureaucratic reforms in its space efforts are helping the country move faster in the sector. "No one is altering their path – we're just complementing each other relative to Artemis and the existing plans with India.

Persons: Taranjit Sandhu, Bill Nelson, CNBC's Michael Sheetz, Narendra Modi, Mike Gold, –, Gold, Artemis Organizations: NASA, Artemis Accords, CNBC's, India's, Modi's, Indian Space Research Organization, ISRO, International Space Station, U.S, Space Force, Space, CNBC, Galactic Locations: U.S, India, Russia, China

☆ Layoffs hit Colorado space companies as funding remains tight
▼ + stars: | 2023-06-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

A pair of Colorado space companies laid off employees this past week, seeking to adapt to the new normal of a tight funding environment. The layoffs came at Ursa Major, which makes rocket engines, and Orbit Fab, a startup aiming to provide refueling services to spacecraft. An Ursa Major spokesperson confirmed to CNBC that the company restructured, but declined to specify the number of layoffs made. In a statement, Ursa Major said the job reductions are "realigning our workforce to better meet the needs of our national security customers." TechCrunch first reported the Ursa Major layoffs.

Persons: Major, Adam Harris, Harris, Ursa Major Organizations: Ripley, Ursa, Ursa Major, CNBC, Space Capital, Air Force Research Laboratory, Astra, Space Force, Space Agency, TechCrunch Locations: Colorado, Berthoud , Colorado, Lafayette , Colorado

The steep drop in fresh capital has left many companies in a vulnerable state, while the failure of Silicon Valley Bank, a leading provider of venture debt, has added to the challenge, a report by venture capital (VC) firm Space Capital said on Thursday. Space Capital's report, coming on the heels of a Chapter 11 filing from Richard Branson's Virgin Orbit Holdings Inc, tracked 89 companies active in the sector. The risk threshold to invest in space companies was much higher earlier, but given recent market uncertainty, investors may not be as risk-loving and space being a nascent sector, many are dialing back, Deutsche Bank analyst Edison Yu told Reuters separately. However, Space Capital added that companies in emerging industries, like those associated with the National Aeronautics and Space Administration's Artemis mission to the Moon are seeing an increased interest. Reuters GraphicsReporting by Akash Sriram and Tanya Jain in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Rocket startups face adapt-or-die moment amid investment drought
▼ + stars: | 2023-04-17 | by ( Joey Roulette | ) www.reuters.com time to read: +5 min

Venture investment in space startups has dropped 50% year-over-year in 2022 to $21.9 billion, according to VC firm Space Capital. Astra Space (ASTR.O), which ditched its small Rocket 3.3 for a planned, larger Rocket 4 in the next few years, has struggled to bring its stock price above $1, facing delisting threats from Nasdaq. Despite the startups' struggles, launch demand has soared after sanctions following Russia's invasion of Ukraine cut off access to Russian rockets. Recent failures with Europe's Arianespace's Vega-C rocket have added to demand in the U.S., outstripping the number of available rockets. Private plans to deploy mega-constellations, vast swarms of satellites in low-Earth orbit, have also given launch startups hope for future demand.

☆ Musk denies report on SpaceX's plans for new funding from Saudi, UAE
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +1 min

March 24 (Reuters) - Elon Musk, the billionaire founder of SpaceX, on Friday denied a media report from earlier this week that said investors from Saudi Arabia and the United Arab Emirates were planning to invest in a multi-billion dollar funding round in the company. A unit of Saudi Arabia's investment fund and an Abu Dhabi-based company are planning to invest in a multi-billion dollar funding round for SpaceX, the Information had reported on Wednesday, citing people familiar with the discussions. Musk tweeted "not true" responding to the report. The funding round is expected to value the rocket maker at about $140 billion, the report added. SpaceX raised $2 billion in 2022 and $2.6 billion in 2020, according to venture capital firm Space Capital.

The space company was valued at more than $1 billion when private equity firm AE Industrial Partners became its controlling shareholder in March. A FireFly spokesperson declined to comment when asked about the fundraising, as did a spokesperson for AE Industrial Partners. It is among a handful of U.S. space companies vying to launch small satellites into space. SpaceX's bigger Falcon 9 rocket costs $62 million and Rocket Lab's smaller Electron rocket costs $7 million. Venture capital investments in space companies fell 44% from a year earlier, according to a quarterly report from VC firm Space Capital.

☆ Investing in Space: Cash crunch
▼ + stars: | 2022-10-20 | by ( Michael Sheetz | ) www.cnbc.com time to read: +3 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. We're now in the final quarter of the year, and for several space companies, it's survival time. They weren't proven businesses and the tide went out," a banker familiar with the sector told me about the environment for space stocks. While not a definitive metric, the cash burn rates of de-SPAC space companies – from AST SpaceMobile to Redwire and more – give a window into the urgency of the situation. Private space companies are feeling the pinch as well.

☆ Space tech startups fall out of VC orbit
▼ + stars: | 2022-10-18 | by ( Akash Sriram | ) www.reuters.com time to read: +2 min

Oct 18 (Reuters) - Space technology startups are being forced to limit their sky-high ambitions, as their venture-capital backers turn to safer bets due to the current economic turmoil, VC firm Space Capital said. Investments in space technology companies, which collect, process and analyze space-related data, have fallen 80% in the third quarter to about $1 billion from nearly $5 billion in the year-earlier period, Space Capital said in a report. VC investment volume in space companies fell 44%, compared with a broader market decline of 31%, it added. VC firms "are looking to reduce their exposure to capital intensive companies with low or long-term profitability models," Space Capital's managing partner, Chad Anderson, told Reuters. Many investors who explored aerospace last year have backed away, said William Kowalski, co-founder of Atomos Space, which makes spacecraft that help satellites maneuver in space.

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