UK space tech startup Space Forge raises $30 million

Cardiff-based Space Forge, innovators in space-based advanced materials manufacturing and return technology, has announced the completion of £22.6 million (USD 30 million) Series A funding round. 

The round was led by the NATO Innovation Fund, with significant support from a strategic global consortium including World Fund, the National Security Strategic Investment Fund (NSSIF) and the British Business Bank through its Regional Angels Programme.

By harnessing the unique conditions of space-including microgravity, vacuum and extreme temperature differentials, Space Forge is unlocking the ability to manufacture materials that are impossible to produce on Earth, the company said in a media release. These advancements have wide-reaching applications in semiconductors, quantum computing, clean energy, and defence technologies.

This investment will accelerate the development of ForgeStar-2, Space Forge’s next-generation returnable manufacturing satellite, while supporting the company’s first in-orbit demonstration mission, ForgeStar-1, set to launch in 2025, according to the media release.

The technology offers a promising pathway to strengthen supply chains for semiconductor production, reducing dependence on vulnerable Earth-based manufacturing systems.

“This funding marks a significant milestone-not just for Space Forge, but for the entire space economy. With the backing of our investors, we’re accelerating our mission to make space a practical and accessible platform for industrial-scale manufacturing,” Joshua Western, CEO & Co-Founder, Space Forge, said. “Our upcoming launches will prove that the future of materials innovation lies beyond Earth, helping us build a more secure, sustainable, and technologically advanced world.”

“We are excited to be supporting Space Forge – a company that is innovating material manufacturing, while also advancing Europe’s access to space, supply chain independence and long-term resiliency,” Chris O’Connor, Partner, NATO Innovation Fund, said. “We look forward to working with the Space Forge team to leverage their technological breakthroughs in order to secure the future of NATO nations.”

“Space Forge’s in-space manufactured semiconductors can reduce energy usage by 75% – by harnessing unique space conditions of microgravity, vacuum and low temperatures. We first backed Space Forge in 2021, long before the link between climate and computing was obvious,” Daria Saharova, General Partner at World Fund, said. “We’re thrilled to continue supporting them as they scale, and we’re excited to welcome the NATO Innovation Fund on this journey.”