Race for space: Funding for space start-ups skyrockets 61 per cent in 2022

Funding to private players soars to $108.52 million compared to $67.2 million in 2021

The race for space has got real, and it is attracting funding like never before. In 2022 so far, funding to private players in the space sector has jumped a whopping 61.5 per cent – soaring to $108.52 million compared to $67.2 million in 2021.

Propelling it is the government’s decision to open up the space sector to private players and the work done by companies like Skyroot Aerospace, the Hyderabad-based start-up behind the launch of India’s first privately developed rocket on November 18.

According to data shared by the Indian Space Association (ISpA), of the $245.35 million that the