Funding, Hiring & Key Developments: Space Industry - March 2025

Welcome to the March edition of Launchpad!

Stay ahead in the rapidly evolving space industry with Launchpad, your go-to source for the latest hiring trends and key investment insights across space technology, aerospace, and defense.

In this edition, we break down $173.6 million in recent funding rounds, spotlighting major investments in satellite propulsion, asteroid mining, and direct-to-device connectivity. We also cover strategic acquisitions, including Rocket Lab’s move to secure its optical communications supply chain and Fleet Space’s expansion into seismic imaging for mineral exploration.

On the hiring front, engineering, manufacturing, and software development continue to dominate, reflecting the industry’s push toward commercialization and infrastructure growth. Meanwhile, roles in mission operations, cybersecurity, and AI/ML are poised for future expansion.

Whether you're scouting emerging startups, or analyzing groundbreaking innovations, Launchpad delivers expert insights and forward-looking forecasts to keep you informed and ahead of the curve.

Funding Breakdown

Magdrive - secured $10.5 million to ramp up R&D of its satellite propulsion technology, aiming to enhance in-space mobility and efficiency.

Karman+ - raised $20 million to continue the development of its first demo mission, High Frontier, which focuses on advancing space infrastructure capabilities.

K2 Space Corporation - secured $110 million to accelerate its satellite production, supporting the rapid deployment of larger, more capable spacecraft.

Esper Satellite Imagery - raised $3.1 million to expand operations both on the ground and in orbit, as it develops hyperspectral imaging satellites designed to detect mineral deposits on Earth.

Skylo - secured $30 million to scale its direct-to-device reach, expanding its satellite-enabled connectivity solutions for remote and underserved areas.

Space startups are securing substantial funding to advance key technologies. A total of $173.6 was raised between 5 companies: Magdrive raised funds to enhance satellite propulsion R&D, while Karman+ secured capital for its asteroid mining demo mission, High Frontier. K2 Space closed a substantial amount of Series B funding to accelerate satellite production, and Skylo raised capital to scale its direct-to-device connectivity. Esper Satellites also secured funding to expand its hyperspectral imaging operations for mineral detection.

Acquisitions and Private Offerings

• Rocket Lab announced its intent to acquire German optical communications company Mynaric for $75 million. This acquisition aims to bring a key supplier in-house, strengthening the supply chain for laser communications terminals, which Mynaric has struggled to manufacture at scale.
• Fleet Space Technologies has acquired HiSeis - Seismic by Fleet , a seismic exploration company, to enhance its ExoSphere mineral exploration platform. By integrating HiSeis’ seismic imaging technology, Fleet Space aims to improve drill targeting, scale operations, and accelerate mineral discovery with reduced environmental impact.
• Stronvar Aerospace has acquired Electro Methods Inc (EMI) to strengthen its position in the aero-engine supply chain. Backed by Blackstone, Stronvar plans to expand EMI’s capabilities, increase capacity, and better support its OEM customers.

Evona Hiring Trends

The space job market continues to emphasize engineering, manufacturing, and software development, reflecting ongoing advancements in spacecraft systems, avionics, and in-space infrastructure. High demand in Electrical, Embedded, and Power Systems, alongside Manufacturing and DevOps, highlights the industry's focus on building and optimizing technology.

While roles in mission operations, cybersecurity, and AI/ML remain limited, their importance is expected to grow as systems become more autonomous and secure. The presence of sales, finance, and project management roles indicates a shift toward commercialization and scalability. As the sector matures, companies will likely expand hiring in operations, security, and commercial functions to support long-term sustainability and market competitiveness.

What's next?

As we move through March 2025, investment and hiring trends continue to shape the trajectory of the space industry. The latest funding rounds signal strong momentum in satellite propulsion, asteroid mining, and direct-to-device connectivity, while acquisitions highlight a strategic push to secure key technologies and strengthen supply chains. Hiring trends also reflect this growth, with demand rising in engineering, manufacturing, and software roles, and an increasing emphasis on commercialization and operations.

With major funding reshaping the landscape and acquisitions consolidating key capabilities, staying ahead of these shifts is critical for investors, entrepreneurs, and industry leaders.

Launchpad will be back next month with deeper insights into the latest market movements, key funding rounds, and hiring trends defining the future of space.

Looking for broader industry news? Check out our other EVONA newsletter, Space Minds, for updates on aerospace, defense, and space technology beyond hiring and investment.

Stay curious, stay inspired, and see you next month!