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The vast space deserves to be explored by humans as it will be our new home in thousands and millions

What are the latest Breakthroughs in Space Tech

The vast space deserves to be explored by humans as it will be our new home in thousands and millions of years. As the human race progresses, it is bound to move beyond Earth and make resembling Kepler planets their new habitat. These explorations are driven by cutting-edge breakthroughs in space tech and scientific discoveries that help us continue the pursuit of the unknown dimensions beyond our solar system.  

In recent years, the domain of space exploration has moved beyond government agencies and monolithic aerospace corporations. This new era of space exploration that has dawned upon us is driven by a surge of innovative startups and the transformative power of space tech. YouPitchLive is an innovative venture studio dedicated to nurturing groundbreaking ventures. If you have a unique idea to explore this universe’s vastness, we will allow you to play a pivotal role in propelling this exciting revolution.

Space Mining

The space economy is no longer a distant dream. It is rapidly becoming a burgeoning economic powerhouse. Space tech has seen tremendous growth from satellite constellations providing global internet access to asteroid mining for precious resources.

For insights, startups like Astroforge and Planetary Resources are venturing on a high-risk, high-reward mission to mine precious space metals. Asteroids are rich in metals like iron, nickel, platinum, palladium, iridium, and osmium that can be used to build space-suitable rockets and satellites. Space mining could revolutionise space exploration and reduce reliance on fragile Earth-based resources,  

3D Rockets and Advanced Materials

Within this fourth industrial revolution, a surge of startups is leveraging materials science and 3D printing to drastically slash satellite launch costs and reshape the space industry. Lighter, more robust materials like carbon fibre and advanced composites are extensively used to ensure rockets remain light, translating to millions of dollars saved on launch fuel. Likewise, 3D printing is also revolutionising spacecraft manufacturing with shorter engine production times. The same potential of 3D printing is moving towards in-orbit mechanisms, where the unique microgravity environment of space will be used to print fibre optic cables, reusable supplies, and construction materials for satellite repairs.

Just last year, in March 2023, NASA’s Relativity Space’s Terran 1 roared to life, lighting up the Florida night sky from Cape Canaveral Space Force Station. This wasn’t your average launch – Terran 1 was a pioneering test rocket and a marvel of modern engineering with the distinction of being the first entirely 3D-printed rocket. This additive manufacturing technique of “building layer by layer” revolutionises space exploration by offering enhanced capabilities and reduced costs. 

Reusable Rockets

Although Space X is considered a pioneer in reusable rockets with its recent two-stage Falcon 9 rocket, some space tech startups are actively getting funding to capitalise on this thriving industry.

Last year, Washington-based startup Stoke Space raised $100 million in new venture funds to develop a fully reusable medium-class rocket called “Nova.” They aim to fortify within a very fragile commercial space economy. Stoke Space has successfully launched its Hopper2 prototype that flew 30 feet high before landing after fifteen seconds.

While Stoke Space is a medium two-stage rocket startup, Rocket Lab has been a commercial launch provider launching satellites for years. They are the sole providers of satellite launch services for the Synspective’s constellation. They pioneer in on-orbit management solutions and spacecraft components seen in their Electron small orbital launch vehicle and the Photon satellite platform. They also work closely with NASA missions to the Moon and Mars.

Small Satellites Democratizing Space Exploration

The space exploration playground no longer belongs to billion-dollar behemoths. Venture investing and high return on investment in miniaturisation of electronics has ushered in the era of nano and micro-satellites, also known as “SmallSats.” Venture studios and venture capital firms are asking startups to stay focused on commercial success while eyeing government contracts that can help them maintain long-term stability.

These compact, cost-effective satellites help gather Earth observation data for environmental monitoring, facilitating high-speed internet connectivity in remote regions. Companies like Planet Labs and Rocket Lab lead the charge, making space more accessible and fostering a new wave of space-based applications.

Conclusion

As a venture studio, YouPitch Live is committed to providing space finance to startups who wish to become the next unicorn of space tech. With our specialist pool of venture investors, we are willing to provide strategic support to space tech startups and fund their growth to help them become the next Space X. If you have an idea on how to harness the power of qubits, develop propulsion methods for deeper and faster space exploration, or envision asteroid mining for precious resources, YouPitch Live is the place for you.