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Space-tech startups are reaping record investments on the back of a news wave over billionaires

Branson has just returned from the fringes of space, and Bezos will soon be touring on a space rocket, though thanks to his own company. Elon Musk’s spacecraft are already running almost on a regular basis to carry out various tasks.

Billionaire space contractors such as Jeff Bezos, Richard Branson and Elon Musk have raised the profile and credibility of commercial space travel in recent years. This upheaval has helped startups launch a wave of funding that takes the new space race from scientific fiction to reality.

Space technology represents a $ 200 billion market that includes Earth , companies developing products and services used in orbit around the Earth and in space exploration and colonial missions. According to market research firm PitchBook, venture capital investments in such companies reached a record $ 5.5 billion in 2020. With $ 3.6 billion in capital raised from 94 transactions in the first six months of this year, the industry will also exceed this milestone.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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