Space startups face uncertainty as US cuts federal spending, report says

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US federal budget cuts have started to have some early impact on space startups after funding for such companies dropped 12.5% in the first quarter, according to investment firm Seraphim Space.

Elon Musk-led Department of Government Efficiency and the Trump administration have been delaying or cancelling contracts across its agencies to curb federal spending.

“Within certain government departments, uncertainty is causing delays as they assess which contracts to move forward with,” Seraphim Space investment analyst Lucas Bishop said.

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Space startups face uncertainty as US cuts federal spending, report says


US federal budget cuts have started to have some early impact on space startups after funding for such companies dropped 12.5% in the first quarter, according to investment firm Seraphim Space.

Elon Musk-led Department of Government Efficiency and the Trump administration have been delaying or cancelling contracts across its agencies to curb federal spending.

“Within certain government departments, uncertainty is causing delays as they assess which contracts to move forward with,” Seraphim Space investment analyst Lucas Bishop said.

Space startups -…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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