Space startup investments stay flat in Q2

Investments in space startups stayed flat in the second quarter, a positive sign for a sector that faced a funding slump over the past few quarters due to the grim economic outlook, a report by venture capital firm Space Capital showed, reports Reuters.
The April-June period saw $6 billion in investments in 91 firms, compared with $2.2 billion in the previous three months and $5.9 billion a year earlier, the report stated.
That marks a big improvement from declines of 53 per cent and 52 per cent in the first quarter and 2022, respectively. Still, at $8.2 billion spread across 183 companies in the first half of 2023, the figure is 41 per cent lower than the same period a year ago.
"The era of free money is over and companies are beginning to adapt to this new normal," Space Capital said, adding that the pickup in financial markets has helped the space industry.