UK-based space technology companies have raised around $5.6B (£4.2bn) across 85 rounds, according to new data published by global market intelligence platform Tracxn. The publication of its new report, The State of UK SpaceTech – Inside the UK’s homegrown space-technology ecosystem, maps out the current ecosystem for space tech companies,
Kirstie Pickering
UK-based space technology companies have raised around $5.6B (£4.2bn) across 85 rounds, according to new data published by global market intelligence platform Tracxn.
The publication of its new report, The State of UK SpaceTech – Inside the UK’s homegrown space-technology ecosystem, maps out the current ecosystem for space tech companies, including capital and exit activity. It follows the recent government announcement of £62m in new funding to develop homegrown space technologies.
About two-thirds of the £62m package targets satellite communications, the UK’s largest funded segment, pairing near-term connectivity investment with a smaller innovation tail for earlier-stage capabilities.
The UK has an active base of companies across satellite communications, Earth observation, launch, mission services and in-space manufacturing, spanning the full value chain that the new public funding can build on.
The sector’s most-funded company is London-based satellite communications operator OneWeb, which has raised about $4.9bn (£3.7bn) and now operates as part of Eutelsat Group.
Beyond OneWeb, Tracxn says a widening set of companies are scaling across the value chain. SatVu, Open Cosmos and Space Forge have each raised between $35m (£26.3m) and $122m (£91.7m) and continue to attract growth capital.
The ecosystem has recorded 16 acquisitions spanning deep-space communications, space sustainability and geospatial data. Recent transactions include Goonhilly acquired by Intuitive Machines; 3s Northumbria acquired by ExoAnalytic; and Bluesky acquired by Woolpert.
Tracxn says the consistency of acquisition activity, with international space and data companies acquiring UK capabilities, reflects strong global demand for technology built in the UK.
