'From the 'Shooting Universe' to the 'Using Universe'… Global Capital Floods into Space Infrastructure

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The investment weight in the global space industry is shifting rapidly from launch vehicles to 'post-launch' activities. Beyond the competition to launch rockets cheaper and more frequently, large-scale capital is flowing into infrastructure technologies that analyze data collected by satellites, transport cargo to space stations, and bring materials produced in orbit back to Earth.

The commonality among these ventures is their focus not on the launch vehicles themselves, but on services that collect and process space data or connect space with Earth. As launch costs decline and access to space improves, 'what to do in space' has emerged as a new investment priority over 'what to ride into space.'

Pixxel, an Indian space startup backed by Google, has secured a Series C investment of 1 billion won (approximately 130 billion won). This is the largest amount ever raised by an Indian space technology company in a single funding round.

This round was jointly led by Singapore's sovereign wealth fund Temasek and UK-based space technology investor Seraphim. 360 ONE Asset and IMM Investment joined as new investors, while existing investors Radical Ventures, GrowX Ventures, and M&G Catalyst also participated.

Pixxel's core technology is hyperspectral imaging, which analyzes light reflected from the Earth's surface by splitting it into hundreds of wavelength bands. While conventional optical satellites excel at capturing images of mountains, seas, and buildings, hyperspectral satellites can distinguish even the unique characteristics of materials composing the Earth's surface.

Utilizing this technology allows for the detection of crop diseases, soil conditions, deforestation, ocean pollution, mineral distribution, and methane gas leaks from space. Based on such technology, Pixxel aims to create a 'Planet Health Monitor' that continuously tracks changes on Earth.

Over the past two years, Pixxel has deployed six hyperspectral satellites named 'Firefly' into orbit. This has established what is described as the world's highest-resolution commercial hyperspectral satellite constellation. The company also operates 'Aurora,' an Earth information software that helps utilize data secured by satellites for actual decision-making.

The business scope is expanding beyond the private sector to include government and defense sectors. Pixxel has signed contracts with NASA (U.S. National Aeronautics and Space Administration) and the U.S. National Reconnaissance Office (NRO), and has won several projects in India's Ministry of National Defense innovation program.

Pixxel will invest this funding into developing the next-generation hyperspectral satellite 'Honeybee' and expanding satellite production facilities in India and the United States. Honeybee, scheduled for its first launch next year, will be equipped with short-wave infrared sensors. The company aims to grow into a comprehensive Earth information company by adding synthetic aperture radar (SAR) and ultra-high-resolution optical sensors in the future.

European space startup TEC (The Exploration Company) has secured a Series C investment of $450 million (approximately 600 billion won). This is the largest Series C funding ever for a European space company. It is also the largest investment received by a female-founded company based in the EU.

This round was jointly led by Bessemer Venture Partners, Atomiko, and ScaleUp Europe Fund managed by EQT. Existing European investors including Balderton Capital, Fluural, Cherry Ventures, and Red River West also participated in the follow-on investment.

TEC was founded in 2021 by Ellen Weiberg, who led Airbus's European space transport business, along with German and French space experts. Positioning itself as a space transport company connecting Europe, the U.S., and the UAE (United Arab Emirates), TEC currently employs over 550 people.

Its core product is the reusable space capsule 'Nyx.' Nyx is designed to transport cargo to the International Space Station and private space stations, then return to Earth carrying experimental results and equipment. It features a launch vehicle-neutral structure not dependent on any specific rocket, with plans to eventually expand its capacity to carry humans.

While there are increasing means to send cargo into space, the capability to safely bring it back to Earth remains concentrated in a few countries and companies. As space stations and microgravity manufacturing markets expand, return vehicles capable of retrieving semiconductors and bio-materials produced in space could emerge as a new market.

TEC will invest this funding into developing the reusable high-thrust rocket engine 'Storm.' Storm is an engine using liquid oxygen and biomethane as fuel, employing a full-flow staged combustion cycle. If Nyx is the 'cargo ship' connecting space and Earth, then Storm serves as the 'transportation vehicle' lifting it into space.

Ultimately, the goal is to enable Europe to secure its own independent launch, transport, and return systems in a space transport market dominated by SpaceX. Founder Ellen Weiberg stated, "We will accelerate the development of propulsion technology for reusable launch vehicles needed in Europe."

France and the UAE are advancing a $1 billion (approximately 1.3 trillion won) project where satellites directly analyze observation data in space. UAE space company Malan Space and satellite infrastructure startup Loft Orbital have formed a consortium to build 'Altair-Next Gen.'

The two sides signed an agreement on the project at the International Space Summit held in Paris, attended by French President Emmanuel Macron. This is a multinational project combining UAE's capital and satellite production capabilities with France and Europe's space supply chain and U.S. optical satellite technology.

The Phase 1 goal is to deploy 50 satellites equipped with radar, optical sensors, and onboard AI into orbit. The first 10 satellites are already being produced at the OrbitWorks factory in Abu Dhabi, UAE. The launch of the first AI satellite is planned for October.

Existing Earth observation satellites transmit raw captured data to ground stations before analysis. Depending on the time a satellite passes over a ground station and communication availability, it can take hours to obtain actual results. This delay is fatal in situations requiring immediate response, such as wildfires, disasters, or military threats.

Altair-Next Gen allows AI mounted on satellites to analyze images first in orbit. When detecting wildfires, abnormal ship movements, or threats to ports and critical infrastructure, the system transmits only the event details, location, and judgment results within seconds instead of large-volume raw video.

French AI startup Mistral AI provides the AI models mounted on the satellites. Users can issue commands to satellites in natural language, and the AI infers necessary results by combining information captured by radar and optical sensors.

An 'AI Application Store' will also be built where users can select and use AI models developed by various providers. The plan is to operate multiple services simultaneously from a single satellite constellation, including ocean monitoring, wildfire detection, disaster response, and port protection.

U.S. Earth observation company BlackSky is also participating in the consortium, supplying ultra-high-resolution optical satellite technology. French reusable launch vehicle startup MaiaSpace is set to serve as the priority launch partner once its launch services are commercialized.

An industry insider analyzed: "The UAE aims to transition from a country that purchases satellites and related services to one that manufactures and operates them directly and sells services abroad." He added, "France's vision for this project is to build an independent supply chain connecting AI, satellites, and launch vehicles centered on its own nation."

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