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The space technology sector is on the verge of a significant funding surge, according to Adam Niewinski, Co-Founder of OTB Ventures. While venture-backed space tech startups secured $6 billion in 2024, this figure is expected to rise substantially in the coming years.
Niewinski emphasized that space tech is just as crucial as AI, with both fields playing a vital role in shaping the future. He highlighted that advancements in AI will further accelerate space exploration and technological breakthroughs.
One of the key drivers behind this growth is the increasing corporate adoption of space-derived data. Traditionally dominated by government funding, space technology is now undergoing a shift towards commercialization, with businesses leveraging satellite data for various applications.
Additionally, geopolitical competition, particularly the US-China space race, is fueling further investment. Drawing parallels to past space rivalries, Niewinski noted that countries like the US, China, and India are actively investing in space technology, making it essential for others to stay ahead in this evolving landscape.
With corporate interest, AI-driven innovation, and geopolitical dynamics shaping the sector, the space tech industry is on track for unprecedented expansion