Space Technology Startups Achieve Record Funding

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Space entrepreneurs billionaires What Jeff Bezos, Richard Branson e Elon Musk raised the public profile and plausibility of commercial space travel in recent years. The hype has helped fuel a wave of funding in startups that build the infrastructure to bring the new space race from science fiction to reality.

Space-related technology is a $200 billion market that encompasses companies that create products and services for use on Earth, in orbit, or for space exploration and colonization missions. Venture capital investment in these companies reached a record $5.5 billion in 2020, according to market research firm PitchBook. The sector is on track to surpass that mark, with US$ 3.6 billion raised in 94 deals in the first six months of this year.