Space Forge raises £22.6m for space factory
Space Forge in Wales has raised £22.6m ($30m) for its second generation materials factory ahead of the launch of its first.
The Series A round is the largest in UK space tech history and was led by the NATO Innovation Fund (NIF), which is backed by all 24 members of NATO.
The deal also included support from a strategic global consortium including World Fund, the National Security Strategic Investment Fund (NSSIF) and the British Business Bank through its Regional Angels Programme.
The company tried to launch a prototype factory on the ill-fated Virgin Orbit mission in January 2023 and since then has signed a deal with US space supplier Northrop Grumman and Sierra Space. It is set to launch the revised version, ForgeStar-1, later this year, expected to be on a Space X mission.
The missions will demonstrate a scalable, reusable platform for manufacturing high-performance materials such as ultra pure gallium nitride for power wafers.
“This funding marks a significant milestone-not just for Space Forge, but for the entire space economy. With the backing of our investors, we’re accelerating our mission to make space a practical and accessible platform for industrial-scale manufacturing,” said Joshua Western, CEO & Co-Founder, Space Forge
The NATO Innovation Fund also backed the company last year with an equity investment alongside in-memory compute startup Fractile AI.
“We are excited to be supporting Space Forge – a company that is innovating material manufacturing, while also advancing Europe’s access to space, supply chain independence and long-term resiliency. We look forward to working with the Space Forge team to leverage their technological breakthroughs in order to secure the future of NATO nations,” said Chris O’Connor, Partner, NATO Innovation Fund.
“We urgently need a resilient, homegrown supply of the next-gen supermaterials required for the future of compute. We also need this homegrown chip supply to be produced sustainably. Space Forge’s in-space manufactured semiconductors can reduce energy usage by 75% – by harnessing unique space conditions of microgravity, vacuum and low temperatures. We first backed Space Forge in 2021, long before the link between climate and computing was obvious. This link is clear as day now. We’re thrilled to continue supporting them as they scale, and we’re excited to welcome the NATO Innovation Fund on this journey,” said Daria Saharova, General Partner at World Fund.
This round also includes investment from Innovation Investment Capital Limited Partnership, backed by Cardiff Capital Region, Gaingels, SpaceVC, Unruly, with additional contributions from Helium Three, Stellar and TypeOne, and London Technology Club.
“This landmark investment in Space Forge is a powerful vote of confidence in the UK’s growing space economy and its global leadership in space-enabled innovation. Based in South Wales, Space Forge exemplifies how cutting-edge space technology is thriving across all corners of the UK,” said Dr. Paul Bate, CEO of the UK Space Agency.
If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :
