Singapore-based Qosmosys raised $100m in a seed funding round to develop its lunar technology. Principal investors were not disclosed, though the startup said its seed round was “a unique and protective funding model,” in a statement.
The funding will be used to develop ZeusX, Qosmosys’ lunar transportation vehicle, which is slated for launch in late 2027 and early 2029.
The company also announced it is planning an initial public offering by 2028.
“This landmark investment represents a pivotal moment for both Qosmosys and the broader space exploration sector,” CEO of Qosmosys, Francois Dubrulle, said.
India’s Chandrayaan-3 rocket, which derives its name from the Sanskrit for ‘mooncraft,’ successfully landed on the lunar south pole in August, following a failed attempt by Russia’s Luna-25 mission.
Following the landing, stocks of 13 space-sector companies added over $2.5bn in market value, according to data from Bloomberg. Module-supplier Centum Electronics shares rose almost 11% while satellite communicator provider Avantel shares have risen more than 12%.
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GlobalData’s Thematic Intelligence: The Space Economy report puts the value of the industry in 2022 at $450bn and suggests that it will see a compound annual growth rate of between 6% and 10% from then until 2030 – when it could be worth as much as $1trn.
After a record 2021 investment in space start-ups, 2022 was a much quieter year.
The investment outlook in 2022 and 2023 is the toughest period for space startups since the economic crisis in 2008, with rapidly rising US interest rates hitting market momentum, causing asset prices to tumble.
However, startups tied up with government contracts appear more resilient to investment shifts.
In August 2023, space infrastructure specialist Axiom Space raised $350m in Series-C funding to help build the first commercial space station, building on the legacy of the International Space Station, which will be decommissioned by 2031.
Our signals coverage is powered by GlobalData’s Thematic Engine, which tags millions of data items across six alternative datasets — patents, jobs, deals, company filings, social media mentions and news — to themes, sectors and companies. These signals enhance our predictive capabilities, helping us to identify the most disruptive threats across each of the sectors we cover and the companies best placed to succeed.