Newspace Navigator – Second Edition9 June 2025

Launches continue with Amazon launching its first satellites as part of Project Kuiper and China launching the first of its satellites in its ambitious AI space computing constellation named Three Body Computing Constellation.

Advanced technologies have also seen investment in their journeys, with Space Forge raising investment for in-space manufacturing and Aetherflux for its space solar technology to beam energy to remote locations.

M&A/Corporate

May 2025

• Rocket Lab is acquiring Geost for US$275m to enhance its defence sector capabilities with electro-optical and infrared sensor payloads, aiming to secure Pentagon satellite contracts;
• IonQ is acquiring Capella Space for approximately US$318m in an all-stock transaction to enhance its quantum networking capabilities and expand its quantum computing partnerships with U.S. agencies;
• MDA Space has increased its offer for SatixFy by 43% to US$3 per share, valuing the deal at around US$356m, following a competing bid from an undisclosed party; and
• Voyager Technologies has filed for an IPO, revealing financial details and plans for its largest project, the Starlab commercial space station, which is projected to cost between US$2.8bn US$3.3bn and launch in 2029.

April 2025

• Spire Global finally closed the US$241m sale of its commercial maritime tracking business to Kpler, ending their legal dispute. The proceeds will pay off US$100m in debt and fund growth initiatives across its other data businesses; and
• D-Orbit acquired Planetek Group to combine their in-orbit servicing and space data capabilities.

February 2025

• Indra Group, a Spanish technology company, agreed to acquire an 89.68% stake in satellite operator Hispasat from Redeia for €725m which includes Redeia’s 43% share in the government satellite service provider Hisdesat;
• Space42, a UAE-based company, will be boosting Earth Observation Capabilities, by forming a JV with Edge Group’s FADA to create a fully integrated EO ecosystem; and
• Karman Space & Defense, a space systems manufacturer startup, completed its IPO on the NYSE and has since raised over US$500m.

Finance

May 2025

• Northrop Grumman is investing US$50m in Firefly Aerospace to support the development of the Eclipse medium-lift launch vehicle, which aims to place up to 16,300 kilograms into low Earth orbit;
• EnduroSat has raised €43m, which the Bulgarian satellite manufacturer will use to scale production of its Gen3 satellite platform and expand its facilities in Europe and the U.S.;
• Space Forge has raised US$30m in Series A funding to advance its in-space manufacturing technology and support the launch of its ForgeStar-1 mission this year; and
• Lockheed Martin has increased its investment in X-Bow Systems by US$35m, bringing the total Series B funding to US$105m, to expand production and build a new facility for manufacturing solid rocket motors and propellants.

April 2025

• True Anomaly raised US$260m in Series C funding to accelerate growth and expand facilities;
• Apex raised US$200m in Series C funding to vertically integrate its spacecraft bus production, accelerate manufacturing and meet growing demand for its spacecraft; and
• Aetherflux, a space solar power startup, has raised US$50m in Series A funding to develop a power grid in space that can beam energy to remote locations, with a demonstration mission planned for 2026.

March 2025

• Intelsat and SES independently invested in Lynk Global’s direct-to-device satellite technology, coincidentally merging their efforts to enhance global connectivity. Lynk Global’s ongoing Series B round, raised more than US$85m in February, neither Intelsat nor SES disclosed how much they invested;
• Viasat and Space42 are pooling their L and S band spectrum and co-investing in a shared direct-to-device satellite prototype to enhance global connectivity;
• Deep Blue Aerospace, a Chinese launch startup, secured nearly US$68.9m in funding to develop and commercialise its reusable Nebula series of rockets, targeting the first orbital launch and recovery attempt for mid-2025; and
• iSpace, a Chinese commercial launch company, secured Series D funding worth several hundred million yuan to develop its reusable Hyperbola-3 rocket, targeting its first orbital launch and sea recovery attempt for December 2025.

February 2025

• K2 Space raised US$110m in Series B funding to ramp up production of its high-power satellite platform, expand its new factory and prepare for the “Gravitas” mission demonstrating electric propulsion from LEO to MEO;
• Urban Sky secured US$30m in Series B funding to develop and commercialise high-altitude balloons and stratospheric payloads for military and commercial applications, enhancing disaster response and data monitoring capabilities;
• ArkEdge Space, a Japanese space start-up, raised US$52m in Series B funding to accelerate the development of commercial satellite constellations for maritime communication, remote sensing and sustainable infrastructure;
• SES secured a €125m loan from the European Investment Bank to fund three additional satellites in the O3b mPOWER constellation, enhancing global connectivity and supporting the EU’s Global Gateway initiative; and
• the UK government will invest £20m into rocket maker Orbex as part of its Series D fundraising, to support the development of its small launcher, potentially becoming a shareholder as part of the company’s £40m fundraising effort.

Launch overview

May 2025

• China successfully launched the ChinaSat-3B communications satellite into geosynchronous orbit using a Long March 7A rocket. China also conducted a sea launch of the Ceres-1 rocket, deploying four satellites for the Tianqi Internet-of-Things constellation;
• Rocket Lab successfully launched the QPS-SAR-10 radar imaging satellite for iQPS;
• Landspace launched six Tianyi satellites, using the enhanced Zhuque-2E rocket for various commercial and scientific purposes; and
• China launched 12 satellites, for the Three-Body Computing Constellation, aiming to create an AI-driven space computing network with 2,800 satellites.

April 2025

• the first operational Project Kuiper broadband satellites were successfully launched on an Atlas 5 rocket for Amazon;
• China successfully launched the third batch of Guowang megaconstellation satellites, using a Long March 5B rocket. This launch is part of China’s plan to create a low Earth orbit communications network to rival Starlink; and
• a Vega C rocket successfully launched the ESA’s Biomass satellite on 29 April 2025, to map and monitor Earth’s forests and other terrains using advanced radar technology.

March 2025

• Rocket Lab launched the final set of Kinéis IoT satellites, completing a constellation of 25 satellites.;
• Rocket Lab launched the QPS-SAR-9 satellite or the Institute for Q-shu Pioneers of Space, Inc. (“iQPS”); and
• Rocket Lab launched eight OroraTech satellites, to expand a constellation for wildfire detection and tracking.

February 2025

• Firefly Aerospace’s Blue Ghost 1 lander entered lunar orbit;
• Rocketlab launched the fourth of five sets of satellites for French IoT company Kinéis; and
• Maxar’s WorldView Legion constellation has now been fully deployed with SpaceX launching the last two Earth observation satellites.