Space Forge Secures £22.6M Series A to Pioneer Industrial Manufacturing in Space
Space Forge has closed a record £22.6 million (≈ US$30 million) Series A round—the largest ever for a UK space tech company. The funding was spearheaded by the NATO Innovation Fund, with additional backing from World Fund, the UK’s National Security Strategic Investment Fund (NSSIF), and the British Business Bank via its Regional Angels Programme.
The money will be used to further develop Space Forge’s next-generation returnable manufacturing satellite, ForgeStar-2, and to push forward with ForgeStar-1, the company’s first in-orbit demonstration, which is slated for launch in 2025. By leveraging space’s unique conditions—such as microgravity, vacuum, and extreme temperature swings—Space Forge aims to produce materials that are difficult or impossible to manufacture on Earth. These materials have potential applications in semiconductors, quantum computing, clean energy, defence, and infrastructure.
According to Space Forge, space-made materials could slash CO₂ emissions by 75% and reduce energy consumption by 60% in critical infrastructure. The investment will also help build more resilient supply chains for semiconductor production, lessening reliance on traditional Earth-based facilities.
Josh Western, Co-Founder and CEO of Space Forge, emphasized the round as a milestone not only for the company but for the space industry in general: it accelerates their vision to make space a practical platform for manufacturing at industrial scale. As well as Space Forge, other investors in the round include Innovation Investment Capital LP (backed by Cardiff Capital Region), Gaingels, SpaceVC, Unruly, Helium Three, Stellar, TypeOne, and London Technology Club.
Government voices also weighed in: the UK Industry Minister praised the investment for its potential to boost the country’s cutting-edge manufacturing, especially in Wales; the CEO of the UK Space Agency called it a strong vote of confidence in the UK’s leadership in space-enabled innovation.
Space Forge is now positioned to lead the commercialization of in-space manufacturing from Low Earth Orbit (LEO), with partnerships already forming with players like Sierra Space and Northrop Grumman.
