Investors project space company funding to rebound in 2023
WASHINGTON — Despite the near-term shakeup caused by a bank failure and broader economic pressures, investors expect funding of space companies to rebound in 2023.
Speaking on a panel at the Satellite 2023 conference here March 13, Mark Boggett, chief executive of Seraphim Space, said that his fund estimated investment in the industry dropped by 25% in 2022 over 2021, but that funding would return to 2021 levels this year.
“Despite where we are with the macroeconomic environment, my expectation is that we will be back up to 2021 levels this year,” he said. Seraphim found that $12.1 billion was invested in the space sector in 2021 — a record — versus $8.9 billion in 2022.
Boggett said that resurgence came from several factors including growing military spending that creates...