Latest news with #NATOInnovationFund
Wales Online
14-05-2025
- Business
- Wales Online
Welsh in-space advanced manufacturing start-up Space Forge in huge funding boost
Welsh in-space advanced manufacturing start-up Space Forge in huge funding boost In one of the biggest funding rounds for a Welsh start-up firm Space Forge has secured £22.6m from a global consortium of investors. Space Forge. Cardiff-based Space Forge, which is pioneering advanced material in space manufacturing such as compound semiconductors via its returnable satellite technology, has a secured £22.6m investment to support its commercialisation plans. In the biggest ever Series A fundraising round in the UK space tech sector, and one of the biggest for a Welsh start-up, Space Forge has been backed by a strategic global consortium led by the NATO Innovation Fund, with significant support from the World Fund, the National Security Strategic Investment Fund (NSSIF) and £2m from British Business Bank through its regional angels programme. The round has also been supported by the Cardiff Capital Region's £50m Innovation Investment Capital fund. The latest equity investment deals in Welsh business READ MORE: Cardiff to benefit from thousands of civil service jobs relocating from London READ MORE: By harnessing the unique conditions of space-including microgravity, vacuum, and extreme temperature differentials-Space Forge, which employs 70 in Cardiff at Eastgate Business Park and also has a presence in Florida, is unlocking the ability to manufacture materials that are impossible to produce on earth. These advancements have wide-reaching applications in compound semiconductors, quantum computing, clean energy, and defence technologies. Research suggests space-made materials could cut CO₂ emissions by 75% and energy use by 60% in key infrastructure, offering a powerful tool for strengthening climate resilience. Article continues below The latest investment will accelerate the development of the firm's ForgeStar-2 next-generation returnable manufacturing satellite while also supporting its first in-orbit demonstration mission, ForgeStar-1, set to launch later this year in Florida. Together, these missions will demonstrate a scalable, reusable platform for manufacturing high-performance materials in space-delivering breakthroughs for security, clean energy and infrastructure. The technology offers a promising pathway to strengthen supply chains for semiconductor production, reducing dependence on vulnerable earth-based manufacturing systems. Joshua Western, chief executive and co-founder, Space Forge, said: 'This funding marks a significant milestone-not just for Space Forge, but for the entire space economy. With the backing of our investors, we're accelerating our mission to make space a practical and accessible platform for industrial-scale manufacturing. "Our upcoming launches will prove that the future of materials innovation lies beyond earth, helping us build a more secure, sustainable, and technologically advanced world.' The value of the equity investment by the Cardiff Capital Region in supporting the round has not been disclosed. Its investment is the fourth from the fund which is managed by Capricorn Fund Managers with PwC providing on investment research and sourcing. Leader of Cardiff Council and vice chair of the Cardiff Capital Region - a statutory body covering the 10 local authorities of south-east Wales - Huw Thomas, said: 'CCR is proud to help fund Space Forge's next steps in on-earth and in-orbit advanced manufacturing. "Their trailblazing approach in the space industry is gaining interest and investment in a highly competitive tech sector and it's very encouraging to see a local pioneering company on a global stage.' Dr Paul Bate, chief executive of the UK Space Agency, said: 'This landmark investment in Space Forge is a powerful vote of confidence in the UK's growing space economy and its global leadership in space-enabled innovation. Based in Cardiff Space Forge exemplifies how cutting-edge space technology is thriving across all corners of the UK. "By transforming the way we manufacture high-performance materials, Space Forge is not only pushing the boundaries of what's possible in orbit, but will also deliver real-world benefits on earth — from cleaner energy to more secure supply chains. We're proud to support pioneering companies like Space Forge as they grow and help secure the UK's position at the forefront of the space and semiconductor sectors.' The calibre of investors backing this round reflects Space Forge's growing importance in advancing secure, sustainable technologies - across defence, aerospace, and clean tech sectors globally. Chris O'Connor, partner, NATO Innovation Fund, said: 'We are excited to be supporting Space Forge – a company that is innovating material manufacturing, while also advancing Europe's access to space, supply chain independence and long-term resiliency. We look forward to working with the Space Forge team to leverage their technological breakthroughs in order to secure the future of NATO nations.' Daria Saharova, general partner at World Fund, said 'Demand for computing power is doubling every two months. Europe imports 80% of its chip supply, with 90% of the world's most-advanced semiconductors coming from Taiwan. A geopolitical escalation there could have catastrophic consequences for Europe. We urgently need a resilient, homegrown supply of the next-generation supermaterials required for the future of compute. We also need this homegrown chip supply to be produced sustainably. Industry Minister Sarah Jones said: 'This is great news for the UK's space industry, and a vote of confidence in the cutting-edge advanced manufacturing technology Space Forge is pioneering in Wales. "Our modern industrial strategy will drive growth in these sectors even further, giving businesses the confidence they need to commit to investing in the UK and ensuring we remain a partner of choice for space agencies around the world.' Mark Barry, senior investment director at British Business Bank, said: 'We are delighted to make this first investment under the new co-investment strategy as part of the regional angels programme. The investment into Space Forge aligns with our overall programme goal to strengthen the UK's regional economy by supporting high-growth businesses, and to leverage the commercial potential from our existing portfolio. We first backed Space Forge through a partner back in 2021 and under Josh's leadership, the company is delivering on its mission to be the in-space manufacturer of choice.' Article continues below The round has also been supported by Gaingels, SpaceVC, Unruly, with additional contributions from Helium Three, Stellar and TypeOne, and London Technology Club.
Time of India
14-05-2025
- Business
- Time of India
Britain's Space Forge raises $30 million with backing from NATO Innovation Fund
By Sudip Kar-Gupta BRUSSELS: British space technology company Space Forge announced on Wednesday a 22.6 million pound ($29.8 million) fundraising led by the NATO Innovation Fund , highlighting the appeal of the fast-growing space technology sector for investors. Space Forge, which was founded in 2018 and aims to make materials in space that could then be used in fields such as semiconductors, said the funds would help the development of its satellites. Competition among the United States, China, Russia and others in Europe to stay ahead in space exploration and technology is fuelling the sector's growth. A report this year by consultancy firm McKinsey estimated the value of the global space economy would rise to $1.8 trillion by 2035, from $630 billion in 2023. "We are excited to be supporting Space Forge - a company that is innovating material manufacturing, while also advancing Europe's access to space, supply chain independence and long-term resiliency," said NATO Innovation Fund partner Chris O'Connor. The NATO Innovation Fund is a standalone venture capital fund backed by 24 North Atlantic Treaty Organization member nations, though NATO is not involved in decision-making or investing financially. Space Forge is headquartered in Cardiff and it also has operations in Florida.
Yahoo
14-05-2025
- Business
- Yahoo
Britain's Space Forge raises $30 million with backing from NATO Innovation Fund
By Sudip Kar-Gupta BRUSSELS (Reuters) -British space technology company Space Forge announced on Wednesday a 22.6 million pound ($29.8 million) fundraising led by the NATO Innovation Fund, highlighting the appeal of the fast-growing space technology sector for investors. Space Forge, which was founded in 2018 and aims to make materials in space that could then be used in fields such as semiconductors, said the funds would help the development of its satellites. Competition among the United States, China, Russia and others in Europe to stay ahead in space exploration and technology is fuelling the sector's growth. A report this year by consultancy firm McKinsey estimated the value of the global space economy would rise to $1.8 trillion by 2035, from $630 billion in 2023. "We are excited to be supporting Space Forge – a company that is innovating material manufacturing, while also advancing Europe's access to space, supply chain independence and long-term resiliency," said NATO Innovation Fund partner Chris O'Connor. The NATO Innovation Fund is a standalone venture capital fund backed by 24 North Atlantic Treaty Organization member nations, though NATO is not involved in decision-making or investing financially. Space Forge is headquartered in Cardiff and it also has operations in Florida. ($1 = 0.7575 pounds)
Yahoo
29-04-2025
- Automotive
- Yahoo
Germany's ARX Robotics garners €31m in Series Around
German defence startup ARX Robotics has raised €31m ($35.2m) in its Series A funding round to advance autonomous defence systems. The funding was led by German venture capital fund HV Capital, with contributions from Omnes Capital, the NATO Innovation Fund, Project A, and investment company Heliad. HV Capital partner Fabian Gruner said: 'ARX is proof that Europe can build internationally relevant defence technology: modern, AI-native, and strategically sovereign. 'Their rapid deployment across Europe is a testament to both the urgency and strength of their product.' Founded in 2022, ARX Robotics is developing unmanned ground vehicles (UGVs) for defence applications. Its Gereon-RCS series and the AI-driven Mithra OS are designed to meet a variety of military needs while ensuring a fully European supply chain. ARX Robotics' scalable, software-defined systems have been adopted by six European armed forces. With the fresh capital, ARX Robotics plans to quintuple its production capacity by 2025 to address growing demand. The company also plans to use the proceeds to enhance its AI capabilities for smarter UGVs, expand into additional European markets, and modernise more than 50,000 NATO vehicles with its technology. ARX Robotics co-founder and CEO Marc Wietfeld said: 'The demand for modular, software-driven defence systems is growing rapidly—and we're building the company that will define this category in Europe. 'At the core of ARX Robotics is a clear mission: to build the next generation of defence infrastructure through scalable robotics and software. 'This fresh funding is an important milestone and catalyst that allows us to move from successful deployments to industrial scale.' ARX Robotics' recent expansion efforts include opening an office in London, UK and establishing a new production facility in southern England. A strategic partnership with Daimler Truck has also been formed to co-develop next-generation military mobility solutions. NATO Innovation Fund Partner Chris O'Connor said: 'We are proud of the tremendous progress the ARX Robotics team has made over the previous year, including growing their suite of products to address the legacy ground fleet, expanding geographic reach and building a world class team. 'ARX Robotics has fielded the largest Western UGV fleet to Ukraine and we look forward to continuing to support the company as it expands its reach across NATO nations.' "Germany's ARX Robotics garners €31m in Series Around" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
17-03-2025
- Business
- Yahoo
German aerospace start-up given go ahead for rocket launch in Norway
German start-up Isar Aerospace will soon be able to launch its first test rocket into space. The Norwegian Civil Aviation Authority has granted authorization for the flight from Andøya Spaceport, the company based in Ottobrunn near Munich said in a statement on Monday. The test launch can take place from Thursday onwards. The launch would not only be a first for Isar Aerospace, but also the maiden space flight for an orbital launch vehicle in continental Europe. Isar Aerospace develops launch vehicles for transporting satellites into orbit but the test will not include any customer payloads. "We are approaching the most important moment of our journey so far," Daniel Metzler, chief executive and co-founder of Isar Aerospace, said in a statement. The rocket start-up recently secured additional funding in a new financing round. Among the investors is the NATO Innovation Fund, a venture capital fund supported by 24 NATO states. Last year, even India launched more rockets than Europe. One reason for this is years of delay in the development of the European Space Agency-backed Ariane 6 launcher. Isar Aerospace's vision for the future is to build up to 40 launchers per year.
