Space startups attracted a record $20.8 billion in funding in the third quarter, as investors poured money into launch providers, manufacturing and other infrastructure ventures, according to a report by global investment firm Seraphim.
The figure was nearly triple the $7.4 billion invested in the second quarter and more than double the prior peak. Excluding Blue Origin’s $10 billion financing, investment was still at an all-time high of $10.8 billion, underscoring growing demand across the sector.
The report, released on Wednesday, also showed a record 216 deals were completed during the quarter, up from 140 in the second quarter.
While SpaceX remains a dominant force in the industry, recent fundraising has been supported by a growing pipeline of commercial orders and government-backed programs, according to Seraphim.
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“Capital is following evidence of commercial and institutional demand, not just residual IPO enthusiasm,” said Lucas Bishop, vice president at Seraphim Space.
Infrastructure-related businesses accounted for the bulk of the funding activity. Companies involved in launch and broader space access attracted $16.4 billion across 120 deals, while satellite communications, Earth observation and other space-service companies raised $4 billion.
Defence and sovereign demand are increasingly supporting investment in launch, manufacturing and orbital infrastructure as governments prioritise domestic space capabilities, Bishop said.
🚀 SpaceTech just recorded its biggest quarter ever.
$20.8bn invested in Q3 2026. Even excluding Blue Origin’s $10bn raise, the sector still set a new funding record.
The latest Seraphim SpaceTech Investment Tracker is now live.
Full report 👇https://t.co/RXPzvJMA0J… pic.twitter.com/E6yCUFklMI
— Seraphim Space (@seraphim_space) October 14, 2026
The quarter’s major fundraising rounds included $1.37 billion for Hadrian, $1 billion for Stoke Space and $500 million for K2 Space.
However, the surge in private investment was in contrast with weaker performance among listed space companies. Bishop said many publicly traded space firms remain loss-making, while SpaceX’s scale and visibility may have drawn investor attention away from smaller listed peers.
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North America accounted for about 70% of global funding year-to-date, while China recorded a quarterly high of $3.3 billion across 49 deals.
Seraphim said funding was likely to moderate from the third-quarter’s exceptional level, but remain above historical norms as more companies enter growth and scale-up phases.
