Investors pour money into launch providers, manufacturing and other infrastructure ventures
SpaceX’s Starship rocket is pictured after launching as seen from South Padre Island near Brownsville, Texas, U.S. January 16, 2025. Photo: REUTERS
Space startups attracted a record $20.8 billion in funding in the third quarter, as investors poured money into launch providers, manufacturing and other infrastructure ventures, according to a report by global investment firm Seraphim.
The figure was nearly triple the $7.4 billion invested in the second quarter and more than double the prior peak. Excluding Blue Origin’s $10 billion financing, investment was still at an all-time high of $10.8 billion, underscoring growing demand across the sector.
The report, released on Wednesday, also showed a record 216 deals were completed during the quarter, up from 140 in the second quarter.
While SpaceX remains a dominant force in the industry, recent fundraising has been supported by a growing pipeline of commercial orders and government-backed programs, according to Seraphim.
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“Capital is following evidence of commercial and institutional demand, not just residual IPO enthusiasm,” said Lucas Bishop, vice president at Seraphim Space.
Infrastructure-related businesses accounted for the bulk of the funding activity. Companies involved in launch and broader space access attracted $16.4 billion across 120 deals, while satellite communications, Earth observation and other space-service companies raised $4 billion.
Defence and sovereign demand are increasingly supporting investment in launch, manufacturing and orbital infrastructure as governments prioritise domestic space capabilities, Bishop said.
🚀 SpaceTech just recorded its biggest quarter ever.
$20.8bn invested in Q3 2026. Even excluding Blue Origin’s $10bn raise, the sector still set a new funding record.
The latest Seraphim SpaceTech Investment Tracker is now live.
Full report 👇https://t.co/RXPzvJMA0J… pic.twitter.com/E6yCUFklMI
— Seraphim Space (@seraphim_space) October 14, 2026
The quarter’s major fundraising rounds included $1.37 billion for Hadrian, $1 billion for Stoke Space and $500 million for K2 Space.
However, the surge in private investment was in contrast with weaker performance among listed space companies. Bishop said many publicly traded space firms remain loss-making, while SpaceX’s scale and visibility may have drawn investor attention away from smaller listed peers.
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North America accounted for about 70% of global funding year-to-date, while China recorded a quarterly high of $3.3 billion across 49 deals.
Seraphim said funding was likely to moderate from the third-quarter’s exceptional level, but remain above historical norms as more companies enter growth and scale-up phases.
