Space investment more than doubled to $23 billion in year to June, report says

By Akash Sriram Sept 23 (Reuters) - Private investment in space companies globally climbed to $23 billion in the year through June, more ‌than double the $9.7 billion raised a year earlier, according to ‌a report by Relm Insurance and British investment firm Seraphim on Wednesday. SpaceX's June IPO has ​reshaped the funding landscape for the sector, drawing in new investors as venture firms look for the next space company capable of a similar payoff. Investors are funneling capital toward companies that can show operational proof rather ‌than early-stage promise, with the ⁠space economy moving from "hype to commercial reality", according to the report covering Earth observation (EO), in-orbit manufacturing and satellite ⁠supply chains.