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This episode of Thinking on Paper examines the largest space technology funding rounds of 2026 and what they reveal about the direction of the commercial space economy.
Investment is moving beyond satellite launches and communications. Companies are now raising capital for orbital data centres, private space stations, reusable rockets, alternative navigation systems, weather intelligence, secure communications and national-security infrastructure.
We count down funding rounds involving:
Starcloud
Xona Space
Tomorrow.io
PLD Space
Stoke Space
Axiom Space
CesiumAstro
Vast
Sierra Space
China’s iSpace
The episode covers:
Why investors are backing space-based data centres
The business case for commercial space stations
How Xona Space and other companies are developing alternatives to GPS
Why reusable launch systems continue to attract capital
The growth of secure satellite communications
How space-based weather intelligence is becoming a commercial market
Whether microgravity research can support viable businesses
Why defence and national-security funding are becoming more important
How private investment is shaping competition between the United States, Europe and China
What the largest funding rounds suggest about the next phase of the space economy
The companies raising the most capital aren’t all pursuing the same market, but several themes recur: sovereign infrastructure, lower launch costs, persistent Earth observation, orbital computing and a shift from individual spacecraft towards complete space-based systems.
This conversation follows the money to understand which technologies investors believe can move from ambitious engineering projects to durable commercial infrastructure.
Please enjoy the show.
--
🎧 Listen to every podcast
📺 Follow us on Instagram
🏠 Follow us on X
🏠 Follow Jeremy on LinkedIn
To suggest guests or sponsor the show, please email: [email protected]
Chapters
(00:00) Starcloud
(00:52) Xona Space
(03:27) Tomorrow IO
(06:01) PLD Space
(08:00) Stoke Space
(10:18) Axiom Space
(12:29) Cesium Astro
(14:50) VAST Space
(19:02) Sierra Space
(21:47) I-Space (Beijing Interstellar Glory Space Technology Ltd.)
By Mark Fielding and Jeremy GilbertsonThis episode of Thinking on Paper examines the largest space technology funding rounds of 2026 and what they reveal about the direction of the commercial space economy.
Investment is moving beyond satellite launches and communications. Companies are now raising capital for orbital data centres, private space stations, reusable rockets, alternative navigation systems, weather intelligence, secure communications and national-security infrastructure.
We count down funding rounds involving:
Starcloud
Xona Space
Tomorrow.io
PLD Space
Stoke Space
Axiom Space
CesiumAstro
Vast
Sierra Space
China’s iSpace
The episode covers:
Why investors are backing space-based data centres
The business case for commercial space stations
How Xona Space and other companies are developing alternatives to GPS
Why reusable launch systems continue to attract capital
The growth of secure satellite communications
How space-based weather intelligence is becoming a commercial market
Whether microgravity research can support viable businesses
Why defence and national-security funding are becoming more important
How private investment is shaping competition between the United States, Europe and China
What the largest funding rounds suggest about the next phase of the space economy
The companies raising the most capital aren’t all pursuing the same market, but several themes recur: sovereign infrastructure, lower launch costs, persistent Earth observation, orbital computing and a shift from individual spacecraft towards complete space-based systems.
This conversation follows the money to understand which technologies investors believe can move from ambitious engineering projects to durable commercial infrastructure.
Please enjoy the show.
--
🎧 Listen to every podcast
📺 Follow us on Instagram
🏠 Follow us on X
🏠 Follow Jeremy on LinkedIn
To suggest guests or sponsor the show, please email: [email protected]
Chapters
(00:00) Starcloud
(00:52) Xona Space
(03:27) Tomorrow IO
(06:01) PLD Space
(08:00) Stoke Space
(10:18) Axiom Space
(12:29) Cesium Astro
(14:50) VAST Space
(19:02) Sierra Space
(21:47) I-Space (Beijing Interstellar Glory Space Technology Ltd.)