News: Microelectronics
15 May 2025
Space Forge raises £22.6m in Series A funding to accelerate development of ForgeStar-2 and launch of ForgeStar-1
UK-based Space Forge Ltd, which is pioneering space-based advanced materials manufacturing and return technology, has completed its £22.6m (about $30m) 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 aims to unlock the ability to manufacture materials that are impossible to produce on Earth. Such advances have wide-reaching applications in semiconductors, quantum computing, clean energy, and defence technologies.
Research suggests that 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.
The investment should accelerate the development of Space Forge’s next-generation returnable manufacturing satellite ForgeStar-2, while supporting its 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, for use in security, clean energy and infrastructure applications. The technology offers a pathway to strengthen supply chains for semiconductor production, reducing dependence on vulnerable Earth-based manufacturing systems.
“We’re accelerating our mission to make space a practical and accessible platform for industrial-scale manufacturing,” says CEO & co-founder Joshua Western.” 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,” he adds.
“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,” notes World Fund general partner Daria Saharova. “We urgently need a resilient, home-grown supply of the next-gen supermaterials required for the future of compute. We also need this home-grown 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,” she adds.
“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,” comments a spokesperson from the National Security Strategic Fund.
The Series A round also includes investment from Innovation Investment Capital Ltd Partnership, backed by Cardiff Capital Region, Gaingels, SpaceVC, Unruly, with additional contributions from Helium Three, Stellar and TypeOne, and London Technology Club.
“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,” reckons Industry Minister Sarah Jones. “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,” she adds.
“This landmark investment in Space Forge is a powerful vote of confidence in the UK’s growing space economy,” says Dr Paul Bate, CEO of the UK Space Agency. “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.”
With key industry collaborations underway — including partnerships with Sierra Space and Northrop Grumman — Space Forge is poised to lead the commercialization of in-space manufacturing from low Earth orbit (LEO).
