Space startups funding halved in 2022 as investors shift to safer bets

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By Akash Sriram and Shreyaa Narayanan (Reuters) – Investments in space startups more than halved to $21.9 billion in 2022 as their venture-capital backers sought safer avenues in the face of a grim economic outlook, VC firm Space Capital said, adding that it expects more pain for the sector this year. Last year, which saw a sharp reversal from a record 2021 with $45.7 billion in funding, marked the toughest period for space startups since the economic crisis in 2008. “As the economy recovered from the COVID pandemic, central banks unleashed the fastest rate hike cycle since 1988. Market moment…

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