Funding in space industry declines 55% to $59.1 mn
Financial Express Kochi|January 07, 2025
FUNDING IN SPACE sector, a key part of the country's ambitions to become a global superpower, plummeted by 55% in 2024 to $59.1 million from $130.2 million the previous year, according to data from market intelligence platform Tracxn.
REUTERS

The drop, which came amid a global 20% decline in space sector investment, marks the first fall in at least five years. Globally, space firms raised about $28 billion in last five years, while their Indian counterparts secured approximately $354 million in the same period, Tracxn data showed.

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