– Space Forge raises £22.6 million (c. $30 million) in Series A - the largest Series A secured by a UK space tech company

– Led by NATO Innovation Fund, the round includes strategic backing from World Fund, NSSIF and British Business Bank

– Funding to accelerate development of ForgeStar®-2 and the 2025 launch of ForgeStar-1 - Space Forge’s next-generation returnable manufacturing satellite


Space Forge, pioneers in space-based advanced materials manufacturing and return technology, today announced the completion of its record-breaking £22.6 million (c. $30 million) Series A funding round-the largest Series A in UK space tech history.

The round was led by the NATO Innovation Fund, with significant support from a strategic global consortium including World Fund, the National Security Strategic Investment Fund (NSSIF) and the British Business Bank through its Regional Angels Programme.

By harnessing the unique conditions of space-including microgravity, vacuum, and extreme temperature differentials-Space Forge is unlocking the ability to manufacture materials that are impossible to produce on Earth. These advancements have wide-reaching applications in semiconductors, quantum computing, clean energy, and defence technologies.

Research suggests space-made materials could cut CO₂ emissions by 75% and energy use by 60% in key infrastructure, offering a powerful tool for strengthening climate resilience.

This investment will accelerate the development of ForgeStar®-2- Space Forge’s next-generation returnable manufacturing satellite while supporting the company’s first in-orbit demonstration mission, ForgeStar-1, set to launch in 2025.

Together, these missions will demonstrate a scalable, reusable platform for manufacturing high-performance materials in space-delivering breakthroughs for security, clean energy and infrastructure. The technology offers a promising pathway to strengthen supply chains for semiconductor production, reducing dependence on vulnerable Earth-based manufacturing systems.

Joshua Western, CEO & Co-Founder, Space Forge, said: “This funding marks a significant milestone-not just for Space Forge, but for the entire space economy. With the backing of our investors, we’re accelerating our mission to make space a practical and accessible platform for industrial-scale manufacturing. Our upcoming launches will prove that the future of materials innovation lies beyond Earth, helping us build a more secure, sustainable, and technologically advanced world.”

The calibre of investors backing this round reflects Space Forge’s growing importance in advancing secure, sustainable technologies - across defence, aerospace, and clean tech sectors globally.

Chris O’Connor, Partner, NATO Innovation Fund, said: “We are excited to be supporting Space Forge – a company that is innovating material manufacturing, while also advancing Europe’s access to space, supply chain independence and long-term resiliency. We look forward to working with the Space Forge team to leverage their technological breakthroughs in order to secure the future of NATO nations.”

Daria Saharova, General Partner at World Fund, commented: “Demand for computing power is doubling every two months. Europe imports 80% of its chip supply, with 90% of the world’s most-advanced semiconductors coming from Taiwan. A geopolitical escalation there could have catastrophic consequences for Europe. We urgently need a resilient, homegrown supply of the next-gen supermaterials required for the future of compute. We also need this homegrown chip supply to be produced sustainably. Space Forge’s in-space manufactured semiconductors can reduce energy usage by 75% - by harnessing unique space conditions of microgravity, vacuum and low temperatures. We first backed Space Forge in 2021, long before the link between climate and computing was obvious. This link is clear as day now. We’re thrilled to continue supporting them as they scale, and we’re excited to welcome the NATO Innovation Fund on this journey.”

A spokesperson from the National Security Strategic Fund said: “We are pleased to participate in this funding round which recognises Space Forge as an exciting engine for growth in the UK's semiconductor and space sector. As strategic investors, NSSIF is focused on shaping the dual-use technology ecosystem and looks forward to supporting Space Forge’s next stage of growth, in line with the ambitions of both the National Space and Semiconductor Strategies.”

Mark Barry, Senior Investment Director, British Business Bank, said: “We're delighted to be following on in our investment with Space Forge. We've been early investors through our partners but this new investment marks our first direct deal under the programme. Josh is one of the best leaders we have had the pleasure to work with and the team's tenacity to ship product is commendable. We look forward to the launches later this year and being one step closer to enabling this critical technology for the UK.”

This round also includes investment from Innovation Investment Capital Limited Partnership, backed by Cardiff Capital Region, Gaingels, SpaceVC, Unruly, with additional contributions from Helium Three, Stellar and TypeOne, and London Technology Club.

Industry Minister Sarah Jones said: “This is great news for the UK’s space industry, and a vote of confidence in the cutting-edge advanced manufacturing technology Space Forge is pioneering in Wales. Our modern Industrial Strategy will drive growth in these sectors even further, giving businesses the confidence they need to commit to investing in the UK and ensuring we remain a partner of choice for space agencies around the world.”

Dr. Paul Bate, CEO of the UK Space Agency, said: "This landmark investment in Space Forge is a powerful vote of confidence in the UK’s growing space economy and its global leadership in space-enabled innovation. Based in South Wales, Space Forge exemplifies how cutting-edge space technology is thriving across all corners of the UK. By transforming the way we manufacture high-performance materials, Space Forge is not only pushing the boundaries of what’s possible in orbit, but will also deliver real-world benefits on Earth — from cleaner energy to more secure supply chains. We’re proud to support pioneering companies like Space Forge as they grow and help secure the UK’s position at the forefront of the space and semiconductor sectors."

With key industry collaborations underway - including partnerships with Sierra Space and Northrop Grumman - Space Forge is poised to lead the commercialisation of in-space manufacturing from Low Earth Orbit (LEO).