Space Forge Funding News- British Spacetech Space Forge Secures £22.6M Series A Funding

The funding was led by the NATO Innovation Fund, with support from World Fund, NSSIF, the British Business Bank, and others including Innovation Investment Capital, Gaingels, SpaceVC, Unruly, and the London Technology Club.

The money will help launch ForgeStar-1, Space Forge’s first in-orbit demo mission, and speed up development of its reusable satellite, ForgeStar®-2.

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Space Forge is working on in-space manufacturing, using the space environment — microgravity, vacuum, and extreme temperatures — to create advanced materials that are hard to make on Earth. These materials can be returned to Earth using the company’s reusable satellites, making the process commercially viable.

This innovation is part of the growing field of orbital manufacturing, which could cut CO₂ emissions by up to 75% and lower energy use in areas like cloud computing, EV charging, and quantum tech.

“This funding marks a significant milestone—not just for Space Forge, but for the entire space economy,” said Joshua Western, CEO and co-founder of Space Forge. “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.”.

“Demand for computing power is doubling every two months,” said Daria Saharova, General Partner at World Fund. “Europe imports 80% of its chip supply, with 90 percent 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.”

The NATO Innovation Fund’s involvement highlights the strategic importance of Space Forge’s work, as the fund supports dual-use technologies that benefit both defence and civilian sectors.

“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,” said Chris O’Connor, Partner at the NATO Innovation Fund.

Sarah Jones, UK Minister for Industry, added: “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.”

Dr. Paul Bate, CEO of the UK Space Agency, echoed that sentiment: “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.”

Space Forge plans to launch ForgeStar-1 in 2025, followed by ForgeStar-2, a more advanced returnable satellite. These systems are built for repeated use and aim to support sustainable space manufacturing without creating space debris. The company is already working with major aerospace partners like Sierra Space and Northrop Grumman.

About Space Forge

Space Forge is a startup based in Cardiff, UK, working on manufacturing materials in space and bringing them back to Earth. The company was founded in 2018 by Andrew Bacon and Joshua Western.