Cardiff-based Space Forge has secured $30 million to create cutting-edge materials in orbit for semiconductors, clean energy, and defense. Led by the NATO Innovation Fund, it’s the largest funding round ever raised by a UK space company.
- Founded in 2018 by Joshua Western and Andrew Bacon, Space Forge designs reusable satellites to manufacture advanced materials in space.
- By taking advantage of space’s unique conditions, such as microgravity, vacuum, and near-zero temperatures, Space Forge produces ultra-high-quality semiconductor substrates used in power electronics, telecommunications, and quantum technologies. This technology enables the creation of materials that are difficult to produce on Earth, supporting the shift toward low-carbon technologies.
- With operations in both the UK and the US, Space Forge also offers its ForgeStar® platform, providing microgravity as a service for various missions.
"We’re here to future-proof semiconductor supply chains and break Earth’s dependence on vulnerable manufacturing systems," Space Forge's team, commented on LinkedIn.
Details of the deal
- The Series A round was led by the NATO Innovation Fund, a €1 billion vehicle, backed by 24 NATO allies, designed to invest in deeptech technologies. The fund aims to strengthen the Alliance's security and resilience, focusing on emerging technologies critical for defence and long-term security, as shared by Patrick Schneider-Sikorsky in an interview with Vestbee.
- The World Fund, the National Security Strategic Investment Fund (NSSIF), the British Business Bank, Innovation Investment Capital, Gaingels, SpaceVC, Unruly, Stellar, TypeOne, and the London Technology Club also joined the round.
- Space Forge will use the fresh capital to launch ForgeStar-1, develop ForgeStar®-2, and scale up orbital manufacturing for materials used in semiconductors, clean energy, and defense.
