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1、Page/1 Dec 2022European Space Tech lifting offPage/2 Intergovernmental organisation dedicated to the peaceful exploration and use of SpaceThe European Space Agency(ESA)is Europes gateway to space.Its mission is to shape the development of Europes space capability and ensure that investment in space
2、continues to deliver benefits to the citizens of Europe and the world.Established in 1975,European Space Agency includes 22 Member States.By coordinating the financial and intellectual resources of its members,it can undertake programmes and activities far beyond the scope of any single European cou
3、ntry.As part of its Agenda 2025,ESA intends to boost commercialisation of Space technology.ESA is working actively to open up to new European players helping them to innovate faster.Learn more about European Space AgencyGlobal startup&venture capital intelligence platform Dealroom.co is the foremost
4、 data provider on startup,early-stage and growth company ecosystems in Europe and around the globe.Founded in Amsterdam in 2013,we now work with many of the worlds most prominent investors,entrepreneurs and government organizations to provide transparency,analysis and insights on venture capital act
5、ivity.Leading applied research and technology transfer foundationThe E.Amaldi Foundation was established on 28 March 2017 by the Italian Space Agency and the Hypatia Research Consortium,as an ambitious project that aims to propose a new way of interpreting applied research and technology transfer in
6、 support of the national scientific heritage.The primary objective of the E.Amaldi Foundation is to promote and support scientific research aimed at technology transfer,starting from the space sector,as a fundamental tool for the countrys economic development and as a source of innovation for improv
7、ing competitiveness,productivity and employment.Access to the Foundation is open to companies,research institutes and all those entities that wish to share scientific,economic and social objectives.Learn more about E.Amaldi FoundationSource:Dealroom.co.The list of names shown on the slide is not exh
8、austive.Page/3 What is Space Tech?Some startups operate in both Upstream and Downstream sectorsUpstreamDownstreamUpstream Space TechThe segment encompasses companies operating in space or developing products for space:developing and/or operating satellites,launch vehicles,developing spacecraft paylo
9、ads and components,innovative materials for use in space,etc.Some of the most innovative areas in this segment include technologies that can enable long-term human presence in space:space resource exploration and in-situ resource utilization,space utilities(in-space datacenters,power grids,etc.)and
10、space habitats,as well as space tourism.The segment also includes companies where space is not their core business.For example,3D printing,advanced materials tech companies that target space among a number of other industries or those that have participated in space projects,or biotech companies tha
11、t have sent experiments to space with the goal of exploring the potential use of their technology in space.Downstream Space TechDownstream space sector encompasses technologies derived from space for use on Earth(e.g.materials and sensors originally developed for space but having found use in Earth-
12、based applications)as well as technologies used in space with the main goal of serving Earth-based applications(mainly satellites:Earth observation,communication,navigation).The segment also includes companies where space/space-derived tech is not their core tech.For example,companies that mention t
13、he use of satellite data among multiple other data sources.Some companies belong to both Downstream and Upstream segments.For example,those operating their own satellites to deliver products/services on Earth(Earth observation satellite data for agritech,energy,etc.)(The infographics to be slightly
14、updated)41%6%53%Startups&scaleupsWhat is Space Tech?Some startups operate in both Upstream and Downstream sectorsUpstreamDownstreamUpstream Space Tech:The segment encompasses companies operating in space or developing products for space:developing and/or operating satellites,launch vehicles,developi
15、ng spacecraft payloads and components,innovative materials for use in space,etc.Some of the most innovative areas in this segment include technologies that can enable long-term human presence in space:space resource exploration and in-situ resource utilization,space utilities(in-space datacenters,po
16、wer grids,etc.)and space habitats,as well as space tourism.The segment also includes companies where space is not their core business.For example,3D printing,advanced materials tech companies that target space among a number of other industries or those that have participated in space projects,or bi
17、otech companies that have sent experiments to space with the goal of exploring the potential use of their technology in space.Downstream Space Tech:Downstream space sector encompasses technologies derived from space for use on Earth(e.g.materials and sensors originally developed for space but having
18、 found use in Earth-based applications)as well as technologies used in space with the main goal of serving Earth-based applications(mainly satellites:Earth observation,communication,navigation).The segment also includes companies where space/space-derived tech is not their core tech.For example,comp
19、anies that mention the use of satellite data among multiple other data sources.Some companies belong to both Downstream and Upstream segments.For example,those operating their own satellites to deliver products/services on Earth(Earth observation satellite data for agritech,energy,etc.)41%6%53%Start
20、ups&scaleupsSource:Dealroom.co Page/4 European Space Tech overview -Upstream sectorIn-space operationsSpace transportationSpace explorationSatellitesComponents&payloadszxGround infrastructureNavigationCommunication/connectivityEarth observationDesigning,manufacturing and operation of Earth observati
21、on/remote sensing satellites Designing,manufacturing and operation of communication/connectivity satellitesGNSS satellite systems(currently state owned),assistance in their operation,alternative PNT using satellites,etc.Ground segment(incl.Ground Segment-as-a-Service),ground-based antennas and relat
22、ed software,etc.zSatelliteszxSpaceplanes&hypersonic flight Stratospheric balloons&platformsIn-space transportation spacecraftLaunch vehiclesRocket-propelled vehicles to carry payload from Earth to space Orbital transfer and in-space logistics vehicles,satellite deployers,separation systems,etc.High-
23、altitude balloons for space tourism as well as for uncrewed flights to carry payloads to spacePlanes incorporating features of an aircraft and a spacecraft,some of which can travel at extreme speedsSpace transportationzxIn-space human presenceIn-space manufacturingSpace utilitiesSpace resource explo
24、rationRover platforms,robotic explorers,etc.for Lunar,planet and asteroid exploration and in-situ resource utilization In-space datacenters,power grids,lunar satellites,satellites for interplanetary communication/navigation,etc.Robotic assembly,additive manufacturing,etc.for in-space manufacturing,c
25、onstruction of spacecraft,etc.Space habitats,space stations,greenhouses,etc.and tools to develop them on-site;in-space food manufacturing,etc.Space explorationzxCybersecurity for space missionsIn-space researchMission planning&control Spacecraft servicing;space debris removal&recyclingIn-space satel
26、lite inspection,relocation,de-orbiting,refuelling,etc.;space debris monitoring and removalTools enabling spacecraft autonomy,space traffic management and collision avoidance,etc.In-space research around materials,tissues,aging,diseases,etc.,as well as tools and equipment enabling it Technologies ena
27、bling cybersecurity of space missions,ground segment,ground/space communication links,etc.In-space operationszxMaterialsChips&sensorsPropulsion systemsSpacecraft parts,structures&payloadsMain spacecraft parts and structures(e.g.satellite buses,actuators,etc.),as well as payloads(antennas,etc.)xzProp
28、ulsion technologies(chemical/electric,solid/liquid/hybrid,etc.)for space applicationsDesign,development,production of semiconductors tailored for space environmentDevelopment and manufacturing of advanced materials for space applicationsComponents&payloadsSource:Dealroom.co Page/5 HealthSatellite te
29、ch for telemedicine&digital monitoring devices and for enabling the concept of One Health;research in microgravity(tissue engineering,cancer research,etc.)for health technology improvements Agriculture&foodSatellite communications for data transmission,Earth observation for monitoring of soil moistu
30、re&weather forecasts,satellite navigation for asset tracking,in-space research for studying plant growth&biologyReduce number of logos to 3Shorten description?Source:Dealroom.co&ESA.Some companies may belong to several segments simultaneously.MaritimeSatellite technologies for maritime surveillance
31、and safety/emergency response,transportation,all aspects of marine life and environment,aquatic-life monitoring,aquaculture&fisheries.AviationSatellite services for air traffic management,airline operational communications&passenger in-flight connectivity,airport management&meteorology;urban air mob
32、ility;reduction of environmental impact in aviationMaterials,mining&manufacturingSatellite tech for site monitoring and connectivity at industrial plants and mining/construction sites;the use of advanced materials developed for space in Earth applications;in-space research leading to new achievement
33、s in industrial tech.Culture&entertainmentSatellite technologies for content apps(e.g.location tracking in photo apps,earth observation data for content creation),gaming(e.g.enhancing AR/VR experiences),sports(acquiring 3D navigational data),etc.MobilitySatellite navigation and connectivity for mobi
34、lity and logistics and freight systems(e.g.for smart traffic management,goods tracking and connecting infrastructures)EducationSatellite connectivity enabling access to online education around the world,including rural areas and developing countries.Security&safetySpace-based services and satellite
35、technologies for maritime surveillance,border control,disaster preparedness,emergency response,critical infrastructure management,secure communications,humanitarian operations,etc.EnergySpace-based data for mapping and measuring wind,wave,tidal and solar resources;satellite communications,navigation
36、 and Earth observation for the hydrocarbon and nuclear sectors;in-space research to study heat transfer processes.Smart citiesSatellite connectivity for grid management(waste management,etc.),navigation for transport information&traffic modelling,Earth observation for urban planning&urban agricultur
37、e,etc.EnvironmentSatellite technologies to monitor the essential climate variables,support in ocean conservation and restoration of land and forests,to assist companies in monitoring their environmental footprint&ESG compliance.TourismSatellite technologies for intelligent routing and smart guides,u
38、p-to-date maps and weather reports,high-resolution imagery for 3D views&digital panoramas for marketing,data on tourist flows.FinanceSatellite data for investment evaluation,risk assessment,event impact assessment,real-time asset/portfolio monitoring,carbon offsets auditing,etc.Space Tech for Earth
39、applications-the Downstream European Space Tech sector.Page/6 VC investment in European Space Tech startups2022TD202020021 was a record year for European Space Tech,and 2022 is almost on track to match it.VC investment in European Space Tech startups reached an all-time high in 2021,with
40、2.9B raised,2.6x compared to 2020.2022 is almost on track to match it and reach 2.7B.Communication and connectivity satellites has been the most funded segment in Upstream Space tech in Europe.What you need to know about Space Tech(in Europe).ESA plays a central role in boosting the Space Tech ecosy
41、stem in Europe and beyond.ESA is supporting the Space Tech ecosystem with initiatives ranging from incubation,networking and investor access to technical support and research.ESA BIC,the largest network of space incubators in Europe,has supported companies which are now worth 8.9B up from just 0.2B
42、in 2016.ESA BICs works with the support of local partners such as the E.Amaldi Foundation.Italy startup Space Tech ecosystem is starting to grow.In 2021,Italian Space Tech startups raised 22M in VC funding,on par with 2020.In 2022,23M have already been raised.Italy has still much room to grow,i rank
43、s in fact 4th in Europe by the number of tech startups,but only 11th by VC funding raised.The combined enterprise value of Italian Space Tech Startups has now reached 389M,up 35%from last year.We have 4 main things:General funding,top space tech segments,ESA,Italy.Will do a version with ESA and Ital
44、y and keep top segments as optionUsed cars and urban air mobility.Two of the main trends shaping the future of mobility in Europe are used car sales and urban air mobility(UAM).Online used car sales are booming,driven by chip shortage and changes in consumer behaviour.This has led to many well capit
45、alized startups in the segment.Frontier UAM could bring a cheaper,quieter,and more environmentally friendly transportation,especially in congested urban areas.20172016 1.8B 2.7B 2.9B 1.1BCombined enterprise value of ESA BICs supported startups20222020200172016 8.9B 6.7BCombined enterprise
46、 value of Italian Space Tech Startups20222020200172016 389M289M 0.2BWhat you need to know about Space Tech(in Europe).Italy startup Space Tech ecosystem is starting to grow.ESA plays a central role in boosting the Space Tech ecosystem in Europe and beyond.2021 was a record year for Europe
47、an Space Tech,and 2022 is almost on track to match it.VC investment in European Space Tech startups reached an all-time high in 2021,with 2.9B raised,2.6x compared to 2020.2022 is almost on track to match it and reach 2.7B.Communication and connectivity satellites has been the most funded segment in
48、 Upstream Space tech in Europe.ESA is supporting the Space Tech ecosystem with initiatives ranging from incubation,networking and investor access to technical support and research.ESA BIC,the largest network of space incubators in Europe,has supported companies which are now worth 8.9B up from just
49、0.2B in 2016.ESA BICs works with the support of local partners such as the E.Amaldi Foundation.In 2021,Italian Space Tech startups raised 22M in VC funding,on par with 2020.In 2022,23M have already been raised.Italy has still much room to grow,i ranks in fact 4th in Europe by the number of tech star
50、tups,but only 11th by VC funding raised.The combined enterprise value of Italian Space Tech Startups has now reached 389M,up 35%from last year.Combined enterprise value of Italian Space Tech StartupsCombined enterprise value of ESA BICs supported startupsVC investment in European Space Tech startups
51、2022TD20202021 2016 1.8B 2.7B 2.9B 1.1B202220212016 8.9B 6.7B 0.2B 389M289M202220212016Key takeaways.VC investment in Upstream Space Tech startups has reached 527M in 2022 so far excluding megarounds,on track to surpass last year all-time-high.Communication and connectivity satellites has been the m
52、ost funded Upstream segment.These investments are also having a large impact on the Downstream sector.Downstream startups working with ESA raised 709M in 2022 so far.ESA plays a central role in boosting the Space Tech ecosystem in Europe.The Italian startup Space Tech ecosystem is starting to grow.2
53、021 was a record year for European Space Tech,and 2022 is on track to surpass it.ESA is supporting the Space Tech ecosystem with initiatives ranging from incubation,networking and investor access to research,engineering,facilities and technical support.ESA BIC,the largest network of space incubators
54、 in Europe,has backed companies which are now worth 6.5B up from just 0.2B in 2016.ESA BIC is supported by local partners such as the E.Amaldi Foundation in Italy.The combined enterprise value of Italian Space Tech startups has now reached 852M,up 18%from last year.Italian Space tech startups have a
55、lso raised 92M since 2016.However Italy has still much room to grow.It ranks in fact 4th in Europe by the number of Space Tech startups,but only 11th by VC funding raised.VC funding in European Space Tech startupsCombined enterprise value of ESA BICs supported startupsCombined enterprise value of It
56、alian Space Tech Startups2022TD2020 2021 20162022TD20212016 6.5B 6.7B 0.2B 852M721M2022TD20212016Expect though 2023 and consolidationTalk about Upstream and Downstream separately.Temper a bit too positive narrativeVC investment in European Space Tech startups reached an all-time high in 2021,with 2.
57、9B raised,2.6x compared to 2020.2022 is almost on track to match it and reach 2.7B.Communication and connectivity satellites has been the most funded segment in Upstream Space tech in Europe.Source:Dealroom.co 1.2B 1.4B 1.2B 747MPage/7 Table of contentsSpace Tech and venture capital in EuropeESAs ro
58、le in boosting space techItalian Space Tech1234Space Tech and venture capital in EuropeESAs role in boosting space techItalian Space TechAppendix:detailed taxonomy and definitions Space Tech and venture capital in Europe1 Page/9 Page/9 200M200020202120142010VC funding in Upstre
59、am Space Tech startups&scaleups,excluding megarounds(100M+)view online 2.0B 2.4B400M600M AmountNumber of rounds*2022YTDWith 527M to date,VC investment in European Upstream Space Tech has already exceeded the 2021 level.This is excluding megarounds.365M 445M 494M 98 622.9B 1.1B2.6x 1.8B 2.7B201020202
60、0212022YTD$250m+$100250m$40100m(series C)$1540m(series B)$415m(series A)$14m(seed)$01m(pre-seed)GrowthBreakoutEarlyOneweb$1.9B UpstreamSource:Dealroom.co data updated as of Nov.14th,2022.*Excluding pre-seed rounds(1M rounds)due to reporting lag.200M2000000
61、M600M2022YTDOld chart:365M 445M 494M 98 62200M2000000M600M2022YTDOld chart:20132012 358M 527M 470M 51 33 52Same as the slide above,but without Pre-Seed rounds and showing the Nr.of rounds for 2022Page/10 Page/10 When including mega-rounds,7.1 billion has b
62、een invested in European Upstream Space Tech since 2010.2010 1.1B 2.0B 2.4B 1.9BOneWeb(Projected by EoY 2022:181;-37%from 2021)(Projectedby EoY 2022:1.4B;+17%from 2021)European Upstream Space Tech VC funding by stage(2010-2022 YTD)7.1BEuropean Upstream Space Tech investment by stage(2010-2022 YTD)Gr
63、owthBreakoutEarly$250m+rounds$100250m$40100m(series C)$1540m(series B)$415m(series A)$14m(seed)$01m(pre-seed)4.8B1.1B1.3B1.7B1.7B757M173M11.6B250M+rounds 1540M(series B)100250M40100M(series C)14M(seed)415M(series A)01M(pre-seed)European Space Tech investment by stage(2010-2022 YTD)4.5B374M1.3B1.7B1.
64、7B757M173M11.6B250M+rounds 1540M(series B)100250M40100M(series C)14M(seed)415M(series A)01M(pre-seed)4.3B374M640M838M673M260M50MSource:Dealroom.co data updated as of Nov.3rd,2022.All 250M+rounds have been raised by OneWebPage/11 Page/11 When including adjacent Downstream Space Tech companies,VC inve
65、sting already matched last years total with 1.2 billion.1.25B250M500M200001420102012VC funding in Space Tech startups&scaleups,excluding megarounds(100M+)view online 750M1.00B Downstream only*Upstream(panies belonging to both Upstream and Downstream)2022YTD 1.2B 1.2B
66、 747M 749M 709M 379M 478M 527M 368MUpstream+downHere or as 2nd slide after funding only UpstreamSource:Dealroom.co data updated as of Nov.14th,2022 *Downstream here is considered with a strict definition for the scope of this report,including only companies which use space tech technologies as their
67、 core in the case of established technologies as GPS,or integrating more frontier space technologies.This since some space technologies such as GPS positioning are now ubiquitous,powering startups&companies from mobility to retail.Page/12 Page/12 VC investment in European Space Tech startups view on
68、line 2010 151VC funding in Upstream Space Tech by startup HQ location(2020-2022),including megarounds(100M+)Europe accounted for 20%of the global VC investment in Upstream Space Tech in 2020-2022.EuropeRest of the world3.3B(20%)13.4B(79%)UpstreamSource:Dealroom.co data updated as of Oct.26th,2022 Pa
69、ge/13$11.2BCommunication and connectivity satellites have been the most funded segment in Upstream Space Tech in Europe,followed by Semiconductors for space.Communication and connectivity satellitesEarth observation satellitesLaunch vehiclesSemiconductors for spaceMaterials for spaceGround infrastru
70、ctureMission planning and controlIn-space transportationSpacecraft parts and payloadsIn-space researchOthers*4.3B450M439M362M267M171M76M73M73M49M46MAmount invested in Upstream Space Tech segments in Europe(2016-2022 YTD)view online Number of rounds by Upstream Space Tech segments in Europe(2016-2022
71、 YTD)Semiconductors for spaceEarth observation satellitesMaterials for spaceLaunch vehiclesCommunication/connectivity satellitesGround infrastructureMission planning and controlPropulsion systemsSpace utilitiesSpacecraft parts and payloadsIn-space transportation In-space researchIn-space human prese
72、nceSatellite navigationSpacecraft servicing and debris removalSpace cybersecurityIn-space manufacturingSpaceplanes and hypersonic flightSpace resource explorationStratospheric balloons and platforms5548453039DownstreamUpstream41M40M38M35M25M22M12M2M0MOthers*46MCommunication and
73、 connectivity satellitesSemiconductors for spaceEarth observation satellitesLaunch vehiclesMaterials for spaceGround infrastructureMission planning and controlIn-space transportationSpacecraft parts and payloadsIn-space researchSpace utilitiesIn-space human presenceIn-space manufacturingPropulsion s
74、ystemsSpaceplanes&hypersonic flightSatellite navigationSpace cybersecuritySpacecraft servicing and debris removal4.3B621M450M439M267M171M76M73M73M49M46M41M40M38M35M25M22M12M2M0MSpace resource explorationStratospheric balloons and platformsVC funding in Upstream Space Tech segments in Europe(2016-202
75、2 YTD)view online Source:Dealroom.co data updated as of Oct.26th,2022 Had a look at the number of startups&scaleups by segment by launch date(below).Wanted to check in which niches the%of startups est.within the past 5 years is the largest.Didnt notice any interesting pattern.I think we should look
76、at the overall number of startups&scaleups instead,because there are many factors we need to take into account.The reasons why the number of startups per segment varies so much are very different for each segment.So Id suggest to just add a chart showing the number of startups per segment probably.P
77、age/14$11.2BSpacecraft servicing and debris removal,spaceplanes&hypersonic flight,in-space transportation,launch vehicles and in-space human presence are emerging segments in Upstream Space Tech.Communication and connectivity satellitesEarth observation satellitesLaunch vehiclesSemiconductors for sp
78、aceMaterials for spaceGround infrastructureMission planning and controlIn-space transportationSpacecraft parts and payloadsIn-space researchOthers*4.3B450M439M362M267M171M76M73M73M49M46MAmount invested in Upstream Space Tech segments in Europe(2016-2022 YTD)view online Number of rounds by Upstream S
79、pace Tech segments in Europe(2016-2022 YTD)Semiconductors for spaceEarth observation satellitesMaterials for spaceLaunch vehiclesCommunication/connectivity satellitesGround infrastructureMission planning and controlPropulsion systemsSpace utilitiesSpacecraft parts and payloadsIn-space transportation
80、 In-space researchIn-space human presenceSatellite navigationSpacecraft servicing and debris removalSpace cybersecurityIn-space manufacturingSpaceplanes and hypersonic flightSpace resource explorationStratospheric balloons and platforms5548453039DownstreamUpstream41M40M38M35M25
81、M22M12M2M0MOthers*46MSpacecraft servicing and debris removalSpaceplanes&hypersonic flightIn-space transportationLaunch vehiclesIn-space human presenceSpace resource explorationEarth observation satellitesMission planning and controlSpace cybersecurityCommunication and connectivity satellitesSpacecra
82、ft parts and payloadsIn-space manufacturingPropulsion systemsSatellite navigationMaterials for spaceIn-space researchStratospheric balloons and platformsGround InfrastructureSemiconductors for spaceSpace utilities%of startups established after 2018 by Upstream Space Tech segment in EuropeSource:Deal
83、room.co data updated as of Nov.14th,2022 Had a look at the number of startups&scaleups by segment by launch date(below).Wanted to check in which niches the%of startups est.within the past 5 years is the largest.Didnt notice any interesting pattern.I think we should look at the overall number of star
84、tups&scaleups instead,because there are many factors we need to take into account.The reasons why the number of startups per segment varies so much are very different for each segment.So Id suggest to just add a chart showing the number of startups per segment probably.75%71%67%58%50%47%43%33%29%28%
85、27%25%24%21%20%20%20%17%14%12%The most emerging segments in Upstream Space tech are spacecraft servicing and debris removal,spaceplanes&hypersonic flight,in-space transportation,launch vehicles and in-space human presence.Page/15 Upstream(*)Upstream(*)DownstreamDownstreamDownstreamDownstreamUpstream
86、&DownstreamUpstreamNumber of European Space Tech exits by type view online Exits in European Space Tech are slowly ticking up in 2021-2022,with notable SPAC IPOs of Lilium and Arqit and acquisitions such StormGeo and Deveryware.acquisitions&buyouts IPOs SPAC IPOsLargest exits in European Space Tech,
87、Upstream and DownstreamLow Earth orbit satellite communicationsUK909M Acquisition,2020*Weather intelligence and data science solutionsNorway396M Acquisition,2021Telematics and data analytics for insuranceItaly405M Acquisition,2014Quantum-safe securityand quantum sensingSwitzerland 59M Acq
88、uisition,2018Post quantum cryptography powered by satellitesUK1.3B SPAC IPO,2021 Investigation technologiesenabling global securityFrance100M Acquisition,2022Electric vertical takeoff and landing jetGermany3.0B SPAC IPO,20215G/4G cellular IoT connectivity solutionsFrance 314M IPO,2011On-demand manuf
89、acturing platformNetherlands255M Acquisition,2020001025Out of 9 largest exits since 2010,6 took place within the last 3 years(thats why showing for 2010-2022 and not just the most recent ones)102220Upstream+DownstreamDownstreamSource:Dealroom.co data updat
90、ed as of Oct.26th,2022.The numbers shown for each company are their valuations at exit.*After the acquisition,OneWeb has merged with Eutelsat at a$3.4B valuation in July 2022.(*)The company in non-core space tech,i.e.its business is not dependent on space technologies and it serves several markets a
91、longside space.Page/16 Combined enterprise value of privately owned Space Tech companies in Europe view online 2015-now 2010-2014 2005-2009 2000-2004 1990-1994 1995-1999 15B10B5B202220172010Combined enterprise value of European Space Tech startups by launch year view online 2015-now 2010-2014 2005-2
92、009 2000-2004 1990-1994 1995-1999Most valuable European Space Tech companies view online 30.0B20.0B10.0B20222017201025.8B 5.9B 4.4x 60B40B20B202220172010Combined enterprise value of public Space Tech startups in Europe view online 80B25B20B100B 2015-now 2010-2014 2005-2009 2000-2004 1990-1994 1995-1
93、999Combined enterprise value of new small space startups by launch year view online 2015-now 2010-2014 2005-2009 2000-2004 2000-2004 1990-1994 1995-1999Combined enterprise value of legacy space startups by launch year view online Meanwhile,the combined enterprise value of privately owned Space Tech
94、startups in Europe has grown to 25 billion,up 50 x from 2010.22.7B 15.9B+43%76.6B 95.8B-20%Most valuable private European Space Tech startups&scaleups2022 YTD20100.5B25B50 xSafe networked computing platformsAustriaValuation:909MTelematics and data analytics for insuranceItalyValuation:1.0BDownstream
95、Upstream&DownstreamDownstreamDownstreamUpstreamDownstream DownstreamUpstream&DownstreamSensor networks and edge computing solutionsGermanyValuation:473709MNext generation sustainable launch vehiclesGermanyValuation:455M IoT connectivityplatformUKValuation:469MGeolocation solution providerUKValuation
96、:320-480MEarth observation satellite operatorFinlandValuation:495742MTelematics and data analytics for insuranceItalyValuation:405MLow Earth orbit satellite communicationsUKValuation:3.1BParametric insurance using satellite imageryFrance Valuation:436655MIoT connectivitytechnologyFranceValuation:400
97、-600MUpstream&Downstream (*)Source:Dealroom.co data updated as of Oct.26th,2022 (*)OneWeb has agreed to be taken over by European satellite operator Eutelsat,which is publicly listed.The transaction is expected to close in the first half of 2023,therefore we are still counting OneWeb as private unti
98、l the deal goes into effect.Page/17 5 Space Tech unicorns have been created in Europe to date,4 of them in the Upstream Space Tech sector.202220212020Year$1B+valuation reachedSpace Tech unicorns founded in Europe view onlineUnicorns created in Europe per industryOut of 5 Space tech unicorns,4 achiev
99、ed unicorn status within the past 2 years.%of unicorns created in Europe in %67%53%50%47%46%18%44%26%20%14511106FintechEnterprise softwareHealthTransportationSecurityEnergySpace techTelecomSemiconductorsRoboticsSpace techRoboticsFintechEnergyEnterprise softwareTransportationT
100、elecomSecurityHealthSemiconductorsEuropean unicorns in Upstream and Downstream space tech view onlineUnicorns created in Europe per industry1961296FintechEnterprise softwareHealthTransportationEnergySecuritySpace techTelecomSemiconductorsRoboticsEuropean space tech has created only a few
101、unicorns,compared to other industries.Operates a division developing autonomy and positioning productsSwedenest.:1992 became unicorn:2010All-electric vertical take-offand landing jetGermanyest.:2015 became unicorn:2020Provider of safe networked computing platformsAustriaest.:1998 became unicorn:2022
102、Global satellite communications companyUnited Kingdomest.:2012 became unicorn:2015Navigation and mapping productsNetherlandsest.:1991 became unicorn:2009Post quantum cryptography powered by satellitesUnited Kingdomest.:2017 became unicorn:2021DownstreamDownstreamUpstream(*)Upstream&DownstreamDownstr
103、eamUpstream&DownstreamOf them,the majority operate in the Downstream sector.Upstream+DownstreamUpstream(*)Upstream&DownstreamDownstreamUpstream&Downstream DownstreamDownstreamElectric vertical takeoff and landing jetGermanyest.:2015 became unicorn:2020Operates a division developing autonomy and posi
104、tioning productsSwedenest.:1992 became unicorn:2010Navigation and mapping productsNetherlandsest.:1991 became unicorn:2009Global satellite communications companyUKest.:2012 became unicorn:2015Provider of safe networked computing platformsAustriaest.:1998 became unicorn:2022Post quantum cryptography
105、powered by satellitesUKest.:2017 became unicorn:2021Source:Dealroom.co.A unicorn is defined as a rapidly scaling company(and tech-enabled)that has reached a$1 billion valuation.More details here.(*)The company in non-core space tech,i.e.its business is not dependent on space technologies and it serv
106、es several markets alongside space.Page/18 Aside from the big exits and known unicorns,there is a strong pipeline of rising stars and future unicorns.Age limit to 2000 Total value:22.5B view onlineUpstreamUpstream/DownstreamDownstreamFuture unicorns$250-999MRising Stars$250MSource:Dealroom.co The lo
107、go shown are not exhaustive but a discretionary selection of the companies of the category.Page/19 Page/19 Foreign investors are more active than ever investing in Upstream Space Tech,with 46 rounds so far this year.European Upstream Space Tech rounds with a foreign investor view online Foreign inve
108、stors that have invested in European Upstream space tech in 2021-2022US investorsAsian investorsEuropean cross-border US AsiaCan be also counted as European so not including for nowUpstream4020602022202001220112010European Upstream Space Tech rounds(excl.megarounds)w
109、ith a foreign investor view online European cross-border USA Asia200M150M250M20222020010M229M137M100M50M245246Source:Dealroom.co data updated as of Nov.11th,2022.Corporates and CVCs are counted by the Corporate HQ location.Other investors are counted by th
110、e HQ location.Promus Ventures is counted as both the US and European VC due to its significant presence in Europe(its venture fund Orbital Ventures is anchored in Luxembourg and is backed by EIF,Luxembourg Government and SNCI).Page/20 201025European Space Tech rounds with a corporate investor view o
111、nline European Upstream Space tech has seen a meteoric rise in corporate investment last year.With 20 rounds to date,2022 is on track to almost reach 2021.Corporate investors that have invested in European Upstream space tech in 2021-2022Corporate investors are more active than ever investing in Spa
112、ce Tech.They have been involved in 57 Space tech rounds this year.Core space techNon-core space tech202220200020002030201016252023Source:Dealroom.co data updated as of Nov.11th,2022.Corporates and CVCs
113、 are counted by the Corporate HQ location.Page/21 Notable European Space Tech investors.SeedSeries ASeries B+Investors in European space techPre-Seed(accelerators&incubators)Core space tech investors*view onlineVCs active in space tech,both Downstream and Upstream (excl.core space tech)*view onlineO
114、ther investor groups view onlinePreferred round Not sure about some of the names(whether theyre in the right category),especially in the 3rd block(other investor groups)Source:Dealroom.co.*Core space tech investors refers to VCs&accelerators with at least one fund with Space Tech as main investment
115、focus.The investors are ranked based on several parameters:total number of rounds&amount invested in Space Tech Upstream and Downstream in Europe.Investors reviewed:only VCs and accelerators;the geography of investors is the same as the geography of the startups:Europe.Promus Ventures is counted as
116、both the US and European VC due to its significant presence in Europe(its venture fund Orbital Ventures is anchored in Luxembourg and is backed by EIF,Luxembourg Government and SNCI).Universities?Government-supported institutionsInvesting in both Upstream and DownstreamRight now showing investors on
117、ly in one bucketPolitecnico di Milano has a fund that has invested in some space companies,as well as Oxford university.SeedSeries ASeries B+European space tech investorsPre-Seed(accelerators&incubators)Core space tech investors view onlineVCs active in space tech(excl.core space tech)*view onlineOt
118、her investor groups view onlinePreferred round Universities?Suggested,but we see very little space tech activityCorporatePage/22 United KingdomFranceGermanySwitzerlandAustriaSpainFinlandNetherlandsIrelandBelgiumItalyLuxembourgPortugalPolandSwedenEstoniaNorwayBulgariaCzech RepublicDenmark3.3B6.7B3.9B
119、2.0B1.0B1.0B1.0B771M480M4%3%3%6%2%3%12%1%3%581M1%393M419M17%2%6.2B1.1B1.1B533M430M241M97M200M90M126M77M384M172M4%296M8%106M132M1%1%58M45M32M19M2.3B646M509M176M279M157M27M62M45M60M75M170M44M5M31M18M60M79M12%1%19M11M40M 1%46M1%11M7M8M10M1M3MCombined EV of the privately owned Space Tech startups&scaleu
120、psNumber of rounds invested in Space Tech;2010-2022 YTDAmount invested in Space Tech;2010-2022 YTDAmount invested in Space Tech as%of all VC,2021-2022 YTDAmount invested in Space Tech;2021-2022 YTDUnited Kingdom,France and Germany and the key hubs for Space Tech in Europe.2952552837104210
121、2658UK,France,Germany and Finland are the key hubs for Upstream Space Tech in Europe.Source:Dealroom.co.The slide is based on the top 20 European countries by the combined EV of the privately owned companies.United KingdomFranceGermanyFinlandSwitzerlandNetherlandsIrelandSpainBelgiumItalyA
122、ustriaPolandDenmarkLuxembourgSwedenPortugalBulgariaEstoniaNorwayCzech Republic1.7B995M885M866M585M284M383M225M253M172M471M94M78M88M62M60M48M13M1MThe UK boasts the most valuable Upstream space tech startup ecosystem.Its biggest player-OneWeb-with its 3.1B valuation,takes up nearly 60%of the entire ec
123、osystem value.Excluding OneWeb,UK runs 4th after France,Germany and Finland by the total amount raised in 2021-2022 YTD.Among the biggest space tech ecosystems,UK and Finland have the highest%of VC funding going to Upstream Space Tech.5.3BOneWeb(3.1B)Combined EV of privately owned Upstream space tec
124、h startups&scaleupsOneWeb(1.9B)181M170M170M70M42M42M80M0M28M31M15M14M12M13M6M10M8M1M0M2.0BAmount invested in Upstream space tech;2021-2022 YTDAmount invested in Upstream space tech as%of all VC;2021-2022 YTD1%1%5%1%1%2%1%0%1%4%1%1%1%3%1%10%1%50 people),grownups(500 people)and result in big companies
125、,like D-Orbit or Lilium.Only companies founded since 1990 are included in this report.TaxonomyThe space tech sector is broadly divided into Upstream and Downstream.The space tech Upstream segment includes companies working directly in space activities(e.g.space exploration,space transportation,in-sp
126、ace operations)The space tech Downstream segment includes companies applying space technologies in other industries on earth from agriculture to health,mobility(e.g satellite imagery applications,satellite localization services for mobility and navigation)On the space tech ecosystem,you can find more details on the full space tech taxonomy.Source:Dealroom.co.The full report will be published and available in September 2022.The full report will be published and available in September 2022.