Space Is On A Hot Streak With SpaceX's New $1.8B Deal, Disney Actress Launching An A16Z-Backed Startup And Another Space Company Planning To Launch An IPO
Space innovation is off to a strong start this year, marked by significant developments that underscore an era of exploration and commercialization beyond Earth's atmosphere.
Investments in space have been on the rise, with $17.9 billion invested in 2023, according to a report by Space Capital. Of note is the fourth quarterās 31% quarter-over-quarter surge, reflecting a renewed enthusiasm for backing space ventures.
Leading the charge is Elon Muskās SpaceX, which recently sealed a monumental $1.8 billion deal with the U.S. military, according to The Wall Street Journal. The agreement solidifies SpaceXās position as a key player in space exploration and underscores the growing symbiosis between the private sector and government entities in advancing space capabilities.
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In a fascinating twist, Bridgit Mendler, known for her roles in The Walt Disney Co.ās hit shows āGood Luck Charlieā and āLemonade Mouth,ā announced her unconventional journey into space.
In addition to her successful entertainment career, Mendler pursued higher education, obtaining a masterās degree from the Massachusetts Institute of Technology (MIT) and earning Ph.Ds from both MIT and Harvard Law School. Now, she has launched Northwood Space, a startup backed by A16Z, signaling a captivating convergence of Hollywood stardom and technological innovation.
"At Northwood, we're rethinking infrastructure for satellite backhaul from the ground up," Mendler posted on X when she announced her venture. "We have our sights on building a data highway between Earth and space. We are designing shared ground infrastructure from first principles to expand access to space."
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Northwood Spaceās vision has garnered significant support, with the startup raising $6.3 million in its seed round from top venture capital firms Andreessen Horowitz and Founders Fund, a testament to investor confidence in its transformative potential.
Meanwhile, Sierra Space Corp. is charting its course toward an initial public offering (IPO) after securing $1.7 billion in funding. With aspirations to tap into the public markets, Sierra Space is poised to leverage its expertise and resources to capitalize on the growing demand for space-related technologies and services.
"We want access to the public markets," CEO Tom Vice told Bloomberg. "Weāve been working for a year and a half to make sure that we are public company ready.ā
This sentiment encapsulates the broader sentiment pervading the space sector ā a resounding call to embrace innovation, forge new frontiers and democratize access to the cosmos.
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