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May 2025 was another strong month for spacetech, continuing 2025’s dominant run. A total of 30 spacetech deals brought in over $744m of funding from venture capital firms.
Spacetech startups from the EU dominated this month, with four raising over $25m. Spain’s Xoople, gathering earth intelligence via AI‑powered geospatial insights, took in the largest amount this month, raising €115m in a round led by CDTI and AXIS. EnduroSat (€43m), OroraTech (€37m), and Aerospacelab (€22.5m) also raised big rounds.
Singapore also found itself solidly on the funding map this month, with Orca AI raising $72.5m in a round led by Brighton Park Capital, with participation from Ankona Capital and Hyperlink Ventures.
With the exception of March ($434m), each month so far in 2025 has seen at least $600m of space-tech deals. At this pace, 2025 is poised to blow 2024’s total out of the water.
All deals in May 2025, by $ (descending)
- Xoople (Spain) – Earth intelligence (AI‑powered geospatial insights) – raised €115m.
- X-Bow Systems (USA) – solid rocket motor and defense tech developer – raised $105m.
- Orca AI (Singapore (HQ London office)) – AI-powered autonomous shipping platform – raised $72.5m.
- EnduroSat (Bulgaria) – microsatellite production platform – raised €43m.
- Firefly Aerospace (USA) – Medium‑lift launch vehicle development – raised $50m.
- Zeno Power (USA) – nuclear battery (radioisotope power systems) – raised $50m.
- OroraTech (Germany) – wildfire satellite intelligence platform – raised €37m.
- CX2 (USA) – electronic warfare technology – raised $31m.
- Space Forge (UK) – space-based materials manufacturing – raised £22.6m.
- Aerospacelab (Belgium) – satellite manufacturing & data services – raised €22.5m.
- mPower Technology (USA) – solar power solutions for space – raised $21m.
- Optics11 (Netherlands) – fiber optic sensing solutions – raised €17m.
- Reflect Orbital (USA) – satellite constellation for sunlight on demand – raised $20m.
- Solestial (USA) – space solar photovoltaic manufacturing – raised $17m.
- Aurora Starlink (China) – space laser communications – raised RMB100m.
- Yushi Space (China) – launch vehicle and “chopstick” recovery – raised RMB100m
- MAGNOTHERM (Germany) – Eco‑friendly magnetic cooling/heating solutions – raised €6.9m.
- PierSight Space (India) – maritime surveillance constellation – raised $8m.
- Inspectiy (India) – Satellite life‑extension technology – raised Rs.47.9 crore.
- Mivium (USA) – GaN semiconductor materials – raised $5m.
- PiLogic (USA) – bespoke satellite AI models – raised $4m.
- Sophia Space (USA) – modular in-orbit AI computing platform – raised $3.5m.
- Astrolight (Lithuania) – laser-based satellite communications platform – raised €2.8m.
- Tended (UK) – wearable safety for field workers – raised £2m.
- SARsat X (Saudi Arabia) – AI-powered Earth observation analytics – raised $2.6m.
- Orbitt Space (India) – satellite bus platforms for ULEO – raised $1m.
Four additional deals raised undisclosed amounts:
- ATMOS Space Cargo (Germany) – space logistics – raised an undisclosed amount.
- eAgronom (Estonia) – regenerative agriculture platform – raised an undisclosed amount.
- Oligo (USA) – spacecraft payload systems – raised an undisclosed amount.
- TEKEVER (Portugal) – AI‑driven autonomous systems – raised an undisclosed amount.
Estimating the size of the Spacetech industry:
SpaceWatch.Global estimates that so far in 2025, 137 companies have raised $3.5b. of venture equity funding.
- January: 24 deals, $836m
- February: 21 deals, $620m
- March: 31 deals, $435m
- April: 31 deals, $630m
- May: 20 deals, $744m
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 May 2025, 24 space-tech companies raised a total of approx. $417.31m. As of publication, the dashboard also includes 8 additional deals, worth $253.6m, which we classify as either not space-tech, or not venture capital.
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.
