Space technology sees acceleration in funding
Space companies and technology is almost always seen as a rich man’s game. That is not surprising, seeing that SpaceX, one of the most successful recent ventures into the space industry, was set up by Elon Musk, and Blue Origins was set up by the richest man in the world, Amazon’s Jeff Bezos.
However, that has not deterred entrepreneurs and investors from entering the industry. Not only that, the industry has seen an acceleration in the amount of funding and number of deals, according to TechCrunch.
Over the past 10 years, an estimated $4.2 billion has been invested into space companies, according to investor group Space Angels. Of that total, 70 percent was deployed in the last three years, indicating a clear acceleration in the industry.
“The barriers to entry came down in 2009, when SpaceX provided increased access to space through low-cost launch and transparent pricing. We saw the first pioneering companies, like Planet, take advantage of that new access starting in 2013.”Chad Anderson, CEO at Space Angels
Read more about the increasingly popular space technology industry among investors here.
