To get in touch about this data, contact me on LinkedIn: https://linkedin.com/in/connorsattely
March 2025 was a banner month for spacetech VC investment, with a whopping 31 deals receiving USD $435m in funding. This ties March 2025 for the highest-activity month since 2023 (in number of deals).
China’s iSpace (~$97m) and Deep Blue Aerospace ($69m) raised mega-rounds as Chinese investors, including the government, continue to invest in the country’s satellite constellation. They were beaten for the top spot this month by US-based Axiom Space, who has raised $100m, although additional investments are expected to be announced next month.
Malaysia saw its first spacetech investment since at least 2023, with InSpace raising an undisclosed round to develop satellites fully locally.
With $1.9b raised in Q1 2025, the year is off to a historically strong start for spacetech investment.
All deals in March 2025, by $ (descending)
- Axiom Space (USA) – private space stations and human spaceflight – raised $100m.
- Beijing Interstellar Glory Space Technology aka iSpace (China) – launch vehicles and reusable methalox engines – raised CNY700m.
- Jiangsu Deep Blue Aerospace (China) – liquid recyclable launch vehicles – raised CNY500m.
- Rangsons Aerospace (India) – aerospace and defense technology – raised INR300 crore.
- Aleph Farms (Israel) – lab-cultivated meat – raised $29m.
- Pangea Aerospace (Spain) – propulsion systems – raised €23m.
- theion (Germany) – crystal sulfur batteries – raised €15m.
- Sateliot (Spain) – LEO-based 5g for IOT – raised €13.8m.
- ATLANT 3D (Denmark) – atomic-scale manufacturing technology – raised $15m.
- Proteus Space (USA) – electric propulsion systems – raised $6.1m.
- Skyfora (Finland) – weather forecasts using GNSS – raised €4m.
- Letara (Japan) – smallsat propulsion systems – raised ¥650m.
- Novac (Italy) – solid-state supercapacitors – raised €3.5m.
- Esper (Australia) – mineral detection via hyperspectral imaging – raised AUS$5m.
- BlueLink (China) – Bluetooth direct satellite technology – raised CNY “tens of millions of Yuan” (est. $3m+)
- Remos (Sweden) – software for satellite ground ops – raised €1m.
- Gaia Project Australia (Australia) – vertical farming – raised AUS$1.7m.
- Ocean Ledger (UK) – forecasting coastal risks, supporting climate resilience – raised €900k.
- Aurora Avionics (UK) – off-the-shelf avionics for launch – raised £500k.
- EntroMat (UK) – high entropy materials for advanced manufacturing – raised AUS$1m.
- TakeMe2Space (India) – AI-inferencing infrastructure in LEO – raised INR5.5 crore.
- SPACEO (Portugal) – space debris removal via inflatable devices – raised €100k.
Ten other companies raised undisclosed amounts:
- Agtuary (Australia) – rural property and environmental data platform
- Quantum Space (USA) – space-based defense systems and infrastructure
- Xona Space (USA) – advanced commercial satellite navigation solution
- Southern Launch (Australia) – bespoke space mission services
- Turion Space (USA) – space infrastructure (droids, propulsion, software)
- Regrow (USA) – agriculture resilience platform
- Star Catcher (USA) – space-to-space power beaming
- SpaceIn (Malaysia) – fully locally-made satellites
- NOVI Space (USA) – space-edge processing
Estimating the size of the Spacetech industry
SpaceWatch.Global estimates that so far in 2025, 76 companies have raised $1.9b. of venture equity funding.
- January: 24 deals, $836m
- February: 21 deals, $620m
- March: 31 deals, $435m
Benchmarking our estimate
The Dealroom/ESA Space Tech Dashboard is a great way to benchmark our estimate. Generally, the dashboard has a more expansive definition of spacetech (including, for example, terrestrial drones, ground sensors, or eVTOL vehicles).
Dealroom estimates that in March 2025, 23 space-tech companies raised a total of approx. $313.59m. As of publication, the dashboard also includes 10 additional deals, worth $136.68m, which we classify as either not space-tech, or not venture capital. The VentureSpace list this month includes eight companies not listed on Dealroom’s dashboard at time of publication: Axiom Space, theion, BlueLink, Entromat, TakeMe2Space, Star Catcher, SpaceIn, and NOVI Space.
Get in touch at [email protected] and we are happy to share more about our methodology, who’s included, who’s not, and more information about each investment.
