What does Space Forge do?
Space Forge is a space technology company based in Cardiff, Wales that develops reusable satellites designed for manufacturing super materials in space, which are later returned to Earth to support low carbon technologies.
How much did they raise?
The company raised £22.6M in a Series A round led by the NATO Innovation Fund, with participation from World Fund, the National Security Strategic Investment Fund, and the British Business Bank, among other investors including Innovation Investment Capital Limited Partnership, Gaingels, SpaceVC, Unruly, Helium Three, Stellar, TypeOne, and London Technology Club.
What are their plans for the money?
Space Forge intends to use the funds to accelerate the development of its ForgeStar-2 and to launch ForgeStar-1, a new returnable manufacturing satellite, by 2025. This initiative is expected to bolster the company's capacity to produce super materials in space, potentially accelerating the transition to low carbon technologies.
What have they achieved so far?
The company has made significant progress by forming strategic partnerships with major industry players like Sierra Space and Northrop Grumman, supporting its mission to innovate in space-based manufacturing.
