Space Forge raises £7.7m

Author: EIS Release Date: Dec 30, 2021

Space Forge of Cardiff,  the returnable satellite startup, has raised £7.7 million in a funding round which was 4x oversubscribed.

 

Lead investors were Type One Ventures and SpaceFund of the US and World Fund of Berlin.

 

The company is developing a small satellite called ForgeStar that can be deployed from conventional launchers to provide rapid and reusable orbiting infrastructure for  people wanting to use the unique conditions of space for research work.

 

The satellites will be used  for carrying out experiments in space. Space Forge hopes to have two launches next year.

 

The company won a $2.4m contract from the European Space Agency’s Boost! Programme, supported by the UK Space Agency