{"id":58424,"date":"2020-12-15T21:18:18","date_gmt":"2020-12-15T13:18:18","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/how-space-startups-survived-and-investors-thrived-in-a-year-of-unknowns\/"},"modified":"2020-12-15T21:18:18","modified_gmt":"2020-12-15T13:18:18","slug":"how-space-startups-survived-and-investors-thrived-in-a-year-of-unknowns","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/how-space-startups-survived-and-investors-thrived-in-a-year-of-unknowns\/","title":{"rendered":"How Space Startups Survived and Investors Thrived in a Year of Unknowns"},"content":{"rendered":"<p>When the coronavirus pandemic put much of the world in lockdown last spring, the space startup community feared that venture capital would dry up. In an April 2020 report, Quilty Analytics outlined a timeline of grim scenarios over a two- to three-year period spanning the pandemic and subsequent recovery. <\/p>\n<p>The research firm predicted that less than half of top venture space companies would survive the fallout. \u201cWe were bracing for a long winter,\u201d says Quilty Analytics Founding Partner Chris Quilty. <\/p>\n<p>\t\t\t\t<img loading=\"lazy\" width=\"300\" height=\"225\" src=\"https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/TkrG2Y4HRNKhYbUSaVF4_VS_010121_DGTL_Cover-300x225.jpg\" class=\"attachment-medium size-medium\" alt=\"\" style=\"width: 120px; height: auto;\" decoding=\"async\" srcset=\"https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/TkrG2Y4HRNKhYbUSaVF4_VS_010121_DGTL_Cover-300x225.jpg 300w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/TkrG2Y4HRNKhYbUSaVF4_VS_010121_DGTL_Cover-800x599.jpg 800w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/TkrG2Y4HRNKhYbUSaVF4_VS_010121_DGTL_Cover-640x480.jpg 640w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/TkrG2Y4HRNKhYbUSaVF4_VS_010121_DGTL_Cover.jpg 1280w\" sizes=\"(max-width: 300px) 100vw, 300px\">\t\t\t<\/p>\n<h3 class=\"fs-5 mt-0\">Explore the January 2021 Issue<\/h3>\n<p class=\"mb-0 fs-smaller text-balance\">Check out more from this issue and find your next story to read.<\/p>\n<p>\t\t\t<button class=\"btn btn-primary\" type=\"button\" data-bs-toggle=\"offcanvas\" data-bs-target=\"#offcanvasMENU\" aria-controls=\"offcanvasExample\" aria-label=\"button\" style=\"white-space: nowrap;\"><br \/>\n\t\t\t\tView More <i class=\"bi bi-arrow-right-circle\"><\/i><br \/>\n\t\t\t<\/button><\/p>\n<p>Despite the grim forecast, and much to Quilty\u2019s surprise, the venture, private equity, and public markets all rebounded much quicker than expected. While many investors did hit the pause button for a few months to focus on their existing portfolio companies, the U.S. federal government\u2019s efforts to supply subsidies and cash to the industry boosted investor confidence. In short, \u201cnot much happened,\u201d says Quilty. <\/p>\n<p>The long winter never came. Full year numbers are not yet available, but 2020 has shaped up to be another one of the largest years on record for space investment. By the end of the third quarter of 2020, for example, investors had poured a record $5.5 billion of capital into space infrastructure companies that build rockets and large satellites, according to space investment firm Space Capital. This includes SpaceX\u2019s oversubscribed $1.9 billion Series N funding round in the third quarter.<\/p>\n<p>Seraphim Capital CEO Mark Boggett wasn\u2019t always confident that space startups would survive the COVID shutdown. Early on in 2020, he worried that generalist tech investors would flee the sector and retreat to more familiar sectors during a market downturn.  <\/p>\n<p><script>var AIAD_fcd45f981d570e35cee941b23edc69c7_6a6aec02d1244;googletag.cmd.push(function(){var AIMAP_29b58f13885ebf8ea6b032f958eb0748 = googletag.sizeMapping().addSize([992, 100], [[970, 90], [970, 250]]).addSize([768, 100], [728, 90]).addSize([320, 100], [320, 50]).build();var AIMAP_737ce075cc05dd766c8f8ea08f3faa73 = googletag.sizeMapping().addSize([768, 100], [728, 90]).addSize([320, 100], [320, 50]).build();var AIMAP_21fe3bcfb86a8660aba4e721ee9338f3 = googletag.sizeMapping().addSize([1200, 100], [970, 250]).addSize([768, 100], [600, 300]).addSize([320, 100], [300, 250]).build();AIAD_fcd45f981d570e35cee941b23edc69c7_6a6aec02d1244 = googletag.defineSlot('\/987\/satellitetoday.com\/via-satellite-digital-issue-ads', [ [600, 300], [300, 250], [970, 250] ], 'div-gpt-ad-1774631144891- 0-6a6aec02d1245').defineSizeMapping(AIMAP_21fe3bcfb86a8660aba4e721ee9338f3).setCollapseEmptyDiv(true).addService(googletag.pubads());   });<\/script><script>googletag.cmd.push(function() { googletag.display('div-gpt-ad-1774631144891- 0-6a6aec02d1245'); });<\/script><\/p>\n<p>To protect Seraphim\u2019s investments from any potential COVID fallout, Boggett spent the second quarter of 2020 encouraging portfolio companies to cut costs and plan carefully for 2021. Seraphim\u2019s investments raised enough money to sustain themselves for a year or more, if necessary. Some of the portfolio\u2019s companies even moved up plans for 2021 into 2020. <\/p>\n<p>Once things seemed to be in good shape, Seraphim increased, and then doubled its pace of investment. The company hasn\u2019t published all of its investments yet, but it participated in portfolio company Iceye\u2019s $87 million Series C funding round in September \u2014 the biggest ever VC funding round for a European space technology company. <\/p>\n<p>Boggett was surprised by how well things turned out for Seraphim in 2020 and by the fact that other investors, too, seemed prepared to back space companies despite COVID-19. <\/p>\n<p>\u201cInvestors at both ends of the spectrum \u2014 early stage and late stage \u2014 are making record amounts of new investment into this market. They\u2019re making very long-term, considered investments into the market at a time of global crisis,\u201d Bogget says. \u201cThat suggests to us that there is a long-term trend of investment appetite in this sector and it\u2019s not driven by hype, and it\u2019s not being turned down as a result of the pandemic and the economic fallout elsewhere.\u201d <\/p>\n<p>Boggett says all of the investment rounds Seraphim invested into this year have also been highly oversubscribed, and companies have either raised more money than planned, or were very selective about the investors brought into the rounds. Like Quilty\u2019s long winter, the retreat Boggett expected never happened. <\/p>\n<p>Ethan Batraski, a partner at VC firm Venrock, leads the firm\u2019s emerging tech portfolio focusing on space and quantum technologies. He describes space investors\u2019 2020 experience as a parabola.<\/p>\n<p>\u201cEarly on, when COVID hit, we didn\u2019t really know how things were going to shake out. In aerospace, deals are done in person, so that was definitely a hard and painful shift. Everyone kind of paused,\u201d he says. \u201cThen coming out of it, I think the ones that are strong are coming out even stronger.\u201d  <\/p>\n<p>Venrock\u2019s portfolio includes California-based space startups such as Astranis, a San Francisco-based communications satellite operator that plans to launch a digital divide-bridging constellation in Geostationary Orbit (GEO), and ABL Space Systems, a small satellite launch company. In 2020, Venrock led Astranis\u2019 $90 million Series B round, and ABL Space Systems\u2019 $49 million venture round.<\/p>\n<p>Batraski says historically low interest rates in 2020 brought multi-stage investors into the fold. \u201c[For] multi-stage, or multi-strategy investors, the way for them to get their target returns is to invest into slightly riskier industries and segments. When capital is cheaper to invest, you can invest more of it at that risk profile. I think most investors don\u2019t have a lot of exposure into space but they\u2019re seeing an inflection point happening,\u201d he explains. <\/p>\n<p><script>var AIAD_fcd45f981d570e35cee941b23edc69c7_6a6aec02d1941;googletag.cmd.push(function(){var AIMAP_29b58f13885ebf8ea6b032f958eb0748 = googletag.sizeMapping().addSize([992, 100], [[970, 90], [970, 250]]).addSize([768, 100], [728, 90]).addSize([320, 100], [320, 50]).build();var AIMAP_737ce075cc05dd766c8f8ea08f3faa73 = googletag.sizeMapping().addSize([768, 100], [728, 90]).addSize([320, 100], [320, 50]).build();var AIMAP_21fe3bcfb86a8660aba4e721ee9338f3 = googletag.sizeMapping().addSize([1200, 100], [970, 250]).addSize([768, 100], [600, 300]).addSize([320, 100], [300, 250]).build();AIAD_fcd45f981d570e35cee941b23edc69c7_6a6aec02d1941 = googletag.defineSlot('\/987\/satellitetoday.com\/via-satellite-digital-issue-ads', [ [600, 300], [300, 250], [970, 250] ], 'div-gpt-ad-1774631144891- 0-6a6aec02d1942').defineSizeMapping(AIMAP_21fe3bcfb86a8660aba4e721ee9338f3).setCollapseEmptyDiv(true).addService(googletag.pubads());   });<\/script><script>googletag.cmd.push(function() { googletag.display('div-gpt-ad-1774631144891- 0-6a6aec02d1942'); });<\/script><\/p>\n<p>Carissa Christensen, founder of Bryce Space and Technology is an astute financial trend-spotter. Her annual Bryce Startup Space report tracks record-setting investment in startup space companies. The report on 2019 activity details how investors tend to pour large amounts of capital into a handful of the industry heavyweights like SpaceX, Blue Origin, and OneWeb. Christensen says that storyline continued in 2020, but there has still been activity supporting small companies. <\/p>\n<p>The report also tracks increased activity from both new startups and investors outside of the United States. In 2019, the majority of investors were located outside of the United States for the first time. Christensen says that trend has continued in 2020, with growth in Europe, particularly the United Kingdom, Japan, Australia, not to mention China. <\/p>\n<p>\u201cThere are countries that are looking at space to drive economic growth as a matter of policy. That\u2019s a different perspective than the U.S., which typically has a national goals perspective, [encompassing] national defense, science and technology, and exploration,\u201d Christensen says. \u201cThe U.S. has a policy of being supportive of commercial space companies, but that\u2019s a bit different from having an economic growth policy that [explicitly] targets space activities. That kind of government interest in and support of a particular sector for economic growth increases investor confidence. It increases opportunities, and it increases government funding.\u201d <\/p>\n<p>Looking ahead to 2021, Boggett of Seraphim Capital is seeing signs of a strong year ahead for space investment activity. He points to a recent report that Sequoia Capital led SpaceX\u2019s latest funding round with a $500 million investment. \u201cWhat does that say that the most experienced venture investor in the world believes that SpaceX is not overvalued at $43 billion, and they\u2019re prepared to do the biggest bet they\u2019ve ever done?\u201d he asks. <\/p>\n<p>Boggett forecasts more companies going public through initial public offerings (IPO) and special purpose acquisition companies (SPAC). He cites Virgin Galactic\u2019s SPAC in 2019 and a recent SPAC announcement from space infrastructure company Momentus as evidence of a massive appetite for space companies from public investors. Positive receptions in the public market, he says, will breed more activity and conviction in private investment. <\/p>\n<p>Quilty looks to 2021 as a proving ground for early stage space startups. He describes the industry investment as taking a barbell curve \u2014 with LEO broadband mega-constellations from SpaceX and Amazon consuming high amounts of capital sitting on one end, and more than 800 seed and\/or Series A startups sitting on the other. <\/p>\n<p>\u201cI think 2021 will be the year where we will find out if and how many companies are able to raise larger rounds. And that will be dependent on both company level performance and the broader economic and investment climate,\u201d Quilty says. <\/p>\n<p>Batraski agrees, pointing in particular to the inevitable shakeout among the launch companies attempting to reach orbit, and the number of satellite bus startups as well. As venture capitalists wait to see which companies can prove their worth, there may be less interest in new early stage businesses. <\/p>\n<p>\u201cThere\u2019s a current cohort of companies past [critical design review] that are going to be in orbit in 2021. Those are going to lead to some pretty significant valuations. I think there\u2019s an appetite in the growth market for those kinds of companies, and probably less of an appetite in the venture market for early stage, because there\u2019s a \u2018wait and see\u2019 approach,\u201d Batraski says. <\/p>\n<p><script>var AIAD_fcd45f981d570e35cee941b23edc69c7_6a6aec02d1d4d;googletag.cmd.push(function(){var AIMAP_29b58f13885ebf8ea6b032f958eb0748 = googletag.sizeMapping().addSize([992, 100], [[970, 90], [970, 250]]).addSize([768, 100], [728, 90]).addSize([320, 100], [320, 50]).build();var AIMAP_737ce075cc05dd766c8f8ea08f3faa73 = googletag.sizeMapping().addSize([768, 100], [728, 90]).addSize([320, 100], [320, 50]).build();var AIMAP_21fe3bcfb86a8660aba4e721ee9338f3 = googletag.sizeMapping().addSize([1200, 100], [970, 250]).addSize([768, 100], [600, 300]).addSize([320, 100], [300, 250]).build();AIAD_fcd45f981d570e35cee941b23edc69c7_6a6aec02d1d4d = googletag.defineSlot('\/987\/satellitetoday.com\/via-satellite-digital-issue-ads', [ [600, 300], [300, 250], [970, 250] ], 'div-gpt-ad-1774631144891- 0-6a6aec02d1d4e').defineSizeMapping(AIMAP_21fe3bcfb86a8660aba4e721ee9338f3).setCollapseEmptyDiv(true).addService(googletag.pubads());   });<\/script><script>googletag.cmd.push(function() { googletag.display('div-gpt-ad-1774631144891- 0-6a6aec02d1d4e'); });<\/script><\/p>\n<p>The new year does not come without uncertainty. A major wild card for investors in 2021 is the incoming administration of U.S. President-elect Joe Biden. <\/p>\n<p>Batraski says the new administration\u2019s priorities, how the Department of Defense streamlines the procurement process, and if and how NASA realigns its goals could mean the difference between two to three times growth and 15 times growth in the commercial industry. <\/p>\n<p>When the U.S. government invested the equivalent of $156 billion in the Apollo program, it had wider repercussions, he says. \u201cWhat was huge from that was the large number of innovations that we use today, the massive amount of innovation that came as a result of the force function. I hope that we see that again because it will be better for new companies to emerge and provide more interesting capabilities to customers.\u201d <\/p>\n<p>In the post-COVID world, Christensen believes that it will quickly become very obvious just how much of an impact government budgets have on commercial space companies and startups \u2014 especially those who depend on the governments as investors, customers, and providers of policy frameworks. <\/p>\n<p>\u201cFor nations that respond to the post-COVID environment with fiscal austerity, we may see some consequences,\u201d says Christensen. \u201cIf you look at the lessons of 2008 \u2014 fiscal austerity as a response to economic disruption \u2014 I don\u2019t think there\u2019s a view that it worked very well in Europe, for example. Maybe we will see a different policy response now.\u201d <strong class=\"Annotation -strong\">VS<\/strong><\/p>\n<p>,<\/p>\n<h2 class=\"widget-title\">In This Issue<\/h2>\n<p>\t\t\t\t\t<!-- post id 405870:  \/code\/wp-content\/themes\/ai-beehive\/template-parts\/content\/post-snippet.php --><\/p>\n<figure class=\"overflow-hidden w-100 me-3\">\n<p>\t<img loading=\"lazy\" width=\"300\" height=\"225\" src=\"https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/wy2SLSPTligw1YO0Tqpj_VS_010121_DGTL_IFC_Interview-300x225.jpg\" class=\"img-responsive wp-post-image\" alt=\"\" style=\"\" decoding=\"async\" srcset=\"https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/wy2SLSPTligw1YO0Tqpj_VS_010121_DGTL_IFC_Interview-300x225.jpg 300w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/wy2SLSPTligw1YO0Tqpj_VS_010121_DGTL_IFC_Interview-800x599.jpg 800w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/wy2SLSPTligw1YO0Tqpj_VS_010121_DGTL_IFC_Interview-640x480.jpg 640w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/wy2SLSPTligw1YO0Tqpj_VS_010121_DGTL_IFC_Interview.jpg 1280w\" sizes=\"(max-width: 300px) 100vw, 300px\">\t\t\t\t\t<\/figure>\n<h3 class=\"fs-4 w-100 line-clamp-3\">\n<p>\t\t\t\tFree Internet is a Must: El Al\u2019s Tal Kalderon Talks IFC as Airlines Look to Rebound<br \/>\n\t\t<\/h3>\n<p><!-- .post-snippet --><\/p>\n<hr class=\"my-3 d-block d-md-none\">\n\t\t\t\t\t\t<!-- post id 405878:  \/code\/wp-content\/themes\/ai-beehive\/template-parts\/content\/post-snippet.php --><\/p>\n<figure class=\"overflow-hidden w-100 me-3\">\n<p>\t<img width=\"300\" height=\"154\" src=\"https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/DkQnTdQcQoSujXyG0Ur4_Screen_Shot_2021-01-25_at_11.10.38_AM-300x154.png\" class=\"img-responsive wp-post-image\" alt=\"\" style=\"\" decoding=\"async\" loading=\"lazy\" srcset=\"https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/DkQnTdQcQoSujXyG0Ur4_Screen_Shot_2021-01-25_at_11.10.38_AM-300x154.png 300w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/DkQnTdQcQoSujXyG0Ur4_Screen_Shot_2021-01-25_at_11.10.38_AM-800x412.png 800w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/DkQnTdQcQoSujXyG0Ur4_Screen_Shot_2021-01-25_at_11.10.38_AM-640x330.png 640w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/DkQnTdQcQoSujXyG0Ur4_Screen_Shot_2021-01-25_at_11.10.38_AM.png 1280w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\">\t\t\t\t\t<\/figure>\n<h3 class=\"fs-4 w-100 line-clamp-3\">\n<p>\t\t\t\tIndustry Must Break the Logjam on Responsible Use of Space<br \/>\n\t\t<\/h3>\n<p><!-- .post-snippet --><\/p>\n<hr class=\"my-3\">\n<p>\t\t\t\t\t<!-- post id 405861:  \/code\/wp-content\/themes\/ai-beehive\/template-parts\/content\/post-snippet.php --><\/p>\n<figure class=\"overflow-hidden w-100 me-3\">\n<p>\t<img width=\"300\" height=\"225\" src=\"https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/8twUDYQdR7SYdMhKb8Nx_VS_010121_DGTL_Cover_Img-300x225.jpg\" class=\"img-responsive wp-post-image\" alt=\"\" style=\"\" decoding=\"async\" loading=\"lazy\" srcset=\"https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/8twUDYQdR7SYdMhKb8Nx_VS_010121_DGTL_Cover_Img-300x225.jpg 300w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/8twUDYQdR7SYdMhKb8Nx_VS_010121_DGTL_Cover_Img-800x599.jpg 800w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/8twUDYQdR7SYdMhKb8Nx_VS_010121_DGTL_Cover_Img-640x480.jpg 640w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/8twUDYQdR7SYdMhKb8Nx_VS_010121_DGTL_Cover_Img.jpg 1280w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\">\t\t\t\t\t<\/figure>\n<h3 class=\"fs-4 w-100 line-clamp-3\">\n<p>\t\t\t\tIt Was Supposed to be a Perfect Match: An Autopsy of Three Failed Satellite Industry Takeovers<br \/>\n\t\t<\/h3>\n<p><!-- .post-snippet --><\/p>\n<hr class=\"my-3 d-block d-md-none\">\n\t\t\t\t\t\t<!-- post id 405864:  \/code\/wp-content\/themes\/ai-beehive\/template-parts\/content\/post-snippet.php --><\/p>\n<figure class=\"overflow-hidden w-100 me-3\">\n<p>\t<img width=\"300\" height=\"225\" src=\"https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/tivRgFhHSrewwowrZmrX_VS_010121_DGTL_Supply_Chain-300x225.jpg\" class=\"img-responsive wp-post-image\" alt=\"\" style=\"\" decoding=\"async\" loading=\"lazy\" srcset=\"https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/tivRgFhHSrewwowrZmrX_VS_010121_DGTL_Supply_Chain-300x225.jpg 300w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/tivRgFhHSrewwowrZmrX_VS_010121_DGTL_Supply_Chain-800x599.jpg 800w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/tivRgFhHSrewwowrZmrX_VS_010121_DGTL_Supply_Chain-640x480.jpg 640w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/tivRgFhHSrewwowrZmrX_VS_010121_DGTL_Supply_Chain.jpg 1280w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\">\t\t\t\t\t<\/figure>\n<h3 class=\"fs-4 w-100 line-clamp-3\">\n<p>\t\t\t\tSatellite Companies Confront Supply Chain Challenges in the COVID Era<br \/>\n\t\t<\/h3>\n<p><!-- .post-snippet --><\/p>\n<hr class=\"my-3\">\n<p>\t\t\t\t\t<!-- post id 405874:  \/code\/wp-content\/themes\/ai-beehive\/template-parts\/content\/post-snippet.php --><\/p>\n<figure class=\"overflow-hidden w-100 me-3\">\n<p>\t<img width=\"300\" height=\"154\" src=\"https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/ySFCts7jQMWNB2NGHrDP_Screen_Shot_2021-01-25_at_11.10.38_AM-300x154.png\" class=\"img-responsive wp-post-image\" alt=\"\" style=\"\" decoding=\"async\" loading=\"lazy\" srcset=\"https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/ySFCts7jQMWNB2NGHrDP_Screen_Shot_2021-01-25_at_11.10.38_AM-300x154.png 300w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/ySFCts7jQMWNB2NGHrDP_Screen_Shot_2021-01-25_at_11.10.38_AM-800x412.png 800w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/ySFCts7jQMWNB2NGHrDP_Screen_Shot_2021-01-25_at_11.10.38_AM-640x330.png 640w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/ySFCts7jQMWNB2NGHrDP_Screen_Shot_2021-01-25_at_11.10.38_AM.png 1280w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\">\t\t\t\t\t<\/figure>\n<h3 class=\"fs-4 w-100 line-clamp-3\">\n<p>\t\t\t\tThe Case for Small GEOs in the Coming LEO Space War<br \/>\n\t\t<\/h3>\n<p><!-- .post-snippet --><\/p>\n<hr class=\"my-3 d-block d-md-none\">\n\t\t\t\t\t\t<!-- post id 405881:  \/code\/wp-content\/themes\/ai-beehive\/template-parts\/content\/post-snippet.php --><\/p>\n<figure class=\"overflow-hidden w-100 me-3\">\n<p>\t<img width=\"300\" height=\"167\" src=\"https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/VN41XVq1QAaL6gOVrMo0_ED_Note-300x167.jpg\" class=\"img-responsive wp-post-image\" alt=\"\" style=\"\" decoding=\"async\" loading=\"lazy\" srcset=\"https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/VN41XVq1QAaL6gOVrMo0_ED_Note-300x167.jpg 300w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/VN41XVq1QAaL6gOVrMo0_ED_Note-800x446.jpg 800w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/VN41XVq1QAaL6gOVrMo0_ED_Note-640x357.jpg 640w, https:\/\/www.satellitetoday.com\/wp-content\/uploads\/2026\/04\/VN41XVq1QAaL6gOVrMo0_ED_Note.jpg 1280w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\">\t\t\t\t\t<\/figure>\n<h3 class=\"fs-4 w-100 line-clamp-3\">\n<p>\t\t\t\tThe Year of Disruption Comes to an End. What will 2021 Hold?<br \/>\n\t\t<\/h3>\n<p><!-- .post-snippet --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When the coronavirus pandemic put much of the world in lockdown last spring, the space startup community feared that venture capital would dry up. In an April 2020 report, Quilty Analytics outlined a timeline of grim scenarios over a two- to three-year period spanning the pandemic and subsequent recovery. The research firm predicted that less [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":58426,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-58424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/58424"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=58424"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/58424\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/58426"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=58424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=58424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=58424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}