Seraphim Space has reported that overall startup activity and later-stage funding within the space tech industry are at higher levels than ever before, according to its half year investment index published today.
Globally, the UK ranks as having the third-highest number of space deals in the past 12 months at 39, trailing behind the US with 165 and China with 64.
Europe has also witnessed a growth in deal numbers, increasing by 60 per cent over the previous year, while investment in Asia has soared by almost 80 per cent.
The UK holds the third spot in terms of investment too, with $311m (£238m) invested, following the US and China again.
“The space investment sector is starting to show encouraging signs of recovery from the lows of 2022,” said Maureen Haverty, Seraphim vice president.
“To combat the ever-increasing threat of SpaceX’s Starlink, companies have realised they must team up to survive. Until very recently, none of the existing GEO communications operators seriously considered SpaceX to be a threat, but this is clearly no longer the case,” Haverty explained.
SpaceX is Elon Musk’s aerospace company which the billionaire founded in 2002 with the ambition of colonising Mars.
“The next six months offer exceptional opportunities for space investors,” continued Haverty.
“We’re starting to see huge valuation resets in attractive, growing companies. These companies will be forced out to market in the latter half of 2023. Investors expect to capitalise on these lower valuations, and then reap the rewards when valuations return to the norm in this growing industry,” she said.
Shares in Seraphim have sunk over 47 per cent in the past year.