Ever since Elon Musk established SpaceX in 2010, an increasing number of entrepreneurs have founded their own aerospace companies. Elon Musk's goal of making space accessible to everyone is becoming increasingly possible as new startups play their own unique role in the industry. Here are six of the top aerospace startups to watch in 2017 that will help make space more accessible and improve our ability to gather resources from space.
Earth2Orbit is an Indian space firm founded by Sushmita Mohanty with goal of transporting humans to the moon and Mars. This space exploration startup offers launch advisory and consulting services to governments. They are also building innovative prototypes of living capsules and spacesuits for astronauts. Earth2Orbit also wants to help India emerge as a global space player and overcome limitations of government-run programs.
So far, the company has played a key role in negotiating launch deals between India's space agency and private firms. India has earned over $120 million from launch deals with over 78 foreign satellites launched. How much money Earth2Orbit has recently raised in funding is unknown, but the company is likely well-off with it's involvement in negotiating launch deals.
SpacePharma is launching a CubeSat, which is a type of miniaturized satellite, aboard a SpaceX rocket. They plan on conducting biomedical and pharmaceutical tests with their mGnify lab in a microgravitational environment. SpacePharma hasn't given an exact amount as to how much they've raised in funding. One of their investors, State of Mind Ventures, invested $1-2 million in SpacePharma. The aerospace startup's mission is to become one of the world leaders in end-to-end microgravitational services and solutions for research that are simple and valuable.
Another aerospace startup to watch in 2017 is York Space Systems, a Denver-based startup that has recently signed a $60 million dollar launch agreement with another new company, Vector, to launch six satellite missions by 2022. York Space Systems was established in 2015 with the mission to improve the satellite design industry and solve the inefficiencies that are currently holding the satellite design industry back. In Q3 2017, the startup plans to launch the S-class platform prototype they're working on.
A few asteroid mining startups are being established with Planetary Resources as one of the top ones to watch. Planetary Resources has recently received a 25 million euro investment from Luxembourg, which is about $27,983,125. This aerospace startup is also being backed by Larry Page, the co-founder of Google. Before their latest investments, Planetary Resources had raised $21.1 million from private investors and venture capital funds. With this funding, Planetary Resources will execute its first commercial asteroid prospecting mission by 2020.
The startup is also working on developing sensors that can scan asteroids for resources like water, metals, and carbons. These resources would be used to refuel rockets in space and construct equipment. Another beneficial use of the sensors they're developing is they could be attached to satellites for measuring temperatures and mapping resources on Earth.
A competitor of SpaceX, Rocket Lab is one of the top aerospace startups to watch in 2017. Rocket Lab has developed an engine called the Rutherford, a 4,600lbf (pound force inch) turbo-pumped LOX/RP-1 creation. Rocket Lab hasn't disclosed how much they've raised in funding, but it's likely a hefty sum. Bessemer Venture Partners, Lockheed Martin, K1W1, and Khosla Ventures have invested in the startup. Moreover, New Zealand's government grants up to $5 million in matching investments for R&D for hi-tech companies due to the Callaghan Innovation Growth Grants program. One of Rocket Lab's top products is projected to be Electron, a small launch vehicle that sells for $4.9 million.
Spire is a radio satellite maker that collects data from satellite constellations geo-specific, geo-spatial imagery capabilities. It can provide information on global trade, weather, pirates, and fish migrations. The first satellites that Spire launched in 2013 were the world's first crowdfunded satellites. Spire has raised almost $70 million in funding, including $40 million in June 2016. Some of their funders include Bessemer, RRE Ventures, Beamonte Investments, Fresco Capital, and Promus Ventures.
The aerospace industry is seeing a lot of great startups that will likely help improve space exploration and gather resources from space. It can be difficult sometimes for entrepreneurs interested in the space industry to build a company, but receiving funding is gradually becoming easier, especially with the avenue of crowdfunding. The above six startups are some of the most notable new companies in the industry to watch as 2017 unfolds.
