EnduroSat, Emerald, Lynk: $240M+ M&A Reshapes Space

AI energy grids, satellite telecom, & imagery lead. Satellite Spotlight, Edition 44.

Author

Imagining Forward
November 03, 2025 • Estimated Reading Time: 5 minutes

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PSA we’re lining up 2026 space tech panels in NYC, SF, LA, Seattle, Denver. DM to co-host.

space brew

deal flow

government

  • Intuitive Machines wins $8.2M AFRL contract extension for nuclear power in defense spacecrafts & lunar infrastructure (AT).

  • Maritime Launch Services secures $7M credit from Canada to fund launch pad construction (BK).

  • Thales wins French Defence award for radars enabling continuous ISR in LEO (AT).

  • Slingshot wins UKSA contract for optical sensors for PNT & space traffic (PS).

seed

  • Cephia raises $4M Seed by ROE, Incharge, SOSV for silicon sensors & computational imaging (PR).

  • Catalyx raises $5.4M Seed by Outlander VC for microgravity labs in space (SN).

  • Altrove raises $10M Seed for lab-grown critical metals used in sensors, actuators, motors (TE).

  • Emerald AI raises $18M Seed extension by Lowercarbon, NVIDIA to scale power-adaptive data centers (PC).

series A+

  • EnduroSat raises $100M Series B by Riot, GV, Lux to scale small & midsize satellite production (RT).

m&a

  • Voyager acquires ExoTerra to vertically integrate thruster & propulsion tech (VS).

headlines

  • Anduril & Polish Armed Forces partner on autonomous air systems for defense (AT).

  • Maincode invests $30M to build sovereign AI infrastructure in Australia with AMD GPUs (AR).

  • Starlink & Virgin Media roll out direct-to-cell satellite telecom in UK (VS).

  • Cambrian Works & Aptos Orbital partner to refine space router & terminals for time sensitive edge compute & consistent cloud connectivity (SN).

community spotlight

today, 11/03

  • Femtech irl (NYC).

  • a16z x AI night (SF).

  • Infrastructure forum (LA).

tuesday, 11/04

  • RoboCon happy hour x PrismaX (NYC).

  • Pre-seed happy hour (SF).

wednesday, 11/05

  • Industrials happy hour (NYC).

  • Founder dinner (NYC).

  • Circular economy breakfast (LA).

  • Data center roundtable (LA).

  • Climate happy hour (LA).

thursday, 11/06

  • Infrastructure x finance (NYC).

  • Hardware meetup (SF).

  • Demo night x south park commons (SF).

  • Changemakers happy hour (SF).

  • Tech happy hour (LA).

  • Decarbonization x Amazon x Prologis (LA).

friday, 11/07

  • Bagels & builders (NYC).

saturday, 11/08

  • Women vibecode (LA).

cosmic weekly insights

trends in 30 seconds

Consolidation shifts competition.

Airbus, Thales, Voyager M&A activity signals pivot from specialized vendors to integrated platforms to rival SpaceX’s full-stack model.

Direct-to-cell telecom hits mass market.

Direct-to-cell satellite operators eliminate ‘last mile’ & infrastructure overhead challenges for ubiquitous global connectivity.

Power constraints create bottlenecks.

Emerald, INNIO, VoltaGrid race to solve energy generation & distribution limits throttling space & AI compute.

Numix is an AI-powered CFO & accounting solution for deep-tech. They assist with R&D credits, SBIR/STRR compliance, payroll management, & proactive CFO insights.

Contact Adam Cai at [email protected].

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