SpaceTech Industry Update

From BlackRock Private Equity, to Lockheed Martin Ventures

The space industry is on its way to reach $1 trillion in revenue by 2040

~Citi Group.

• Aerospace M&A recovery expected to continue in 2022 with over 26% volume increase. Attractive investment dynamics for platforms manufacturers, 90 transactions since 2021.
• Wyvern- has raised $7M in a seed plus round led by Uncork Capital, bringing the hyperspectral startup’s total financing to ~$15M to date. Previous investors MaC Venture Capital and Y Combinator also participated in this round. 
• SatixFy from Israel has Completes SPAC Merger SatixFy completed its SPAC merger with Endurance Acquisition Corp ($EDNC) last week, after shareholders voted to approve the deal Wednesday. The Israeli satcom company had its first day of trading on the New York Stock Exchange on Friday, Oct. 28, represented by the ticker $SATX.
• Terran Orbital Corporation from Boca Raton, FL receives $100 Million Investment from Lockheed Martin. The investment will fund the expansion of Terran Orbital’s advanced manufacturing capabilities In connection with the investment, Terran Orbital and Lockheed Martin also entered into a new Strategic Cooperation Agreement (SCA). The new SCA runs through 2035 and allows Terran Orbital to pursue a wider variety of opportunities with Lockheed Martin.
• NASA ECONOMIC IMPACT REPORT stated that missions contributed $71.2B to the US economy and nearly 340,000 jobs in all 50 states in FY21.
• VCs have put $7B of capital to work backing aerospace & defense (A&D) startups through Oct. 13, per PitchBook-compiled data. A&D financing is on a trajectory to pass last year’s record deal value of $7.6B. 
• Amazon is opening a new production facility in Kirkland, WA, to build Kuiper satellites.
• The commercial remote sensing company Maxar Technologies [MAXR] has acquired Wovenware, which specializes in artificial intelligence

The German startup Constellr has raised a $10 million seed round to monitor crop conditions from space.  Constellr says the data from its satellites can improve harvests while reducing irrigation. And water consumption is just the first step.