The Venture Codex

Led · Grant · Jun 2026

Space Forge develops in-space manufacturing capabilities, producing semiconductor materials in microgravity to achieve fewer defects and greater uniformity. The company demonstrated its manufacturing environment with the ForgeStar-1 mission and is now funded to advance Pridwen, a deployable reusable heat shield designed to protect spacecraft during re-entry. The recent £10 million GSTP award from the UK Space Agency via ESA will fund a mission to design, build, launch and return Pridwen and bring the technology to commercial readiness. Space Forge says Pridwen’s deployable design will create a larger protective surface while reducing weight and enabling reuse, which the company believes is critical to enabling frequent returns of manufactured payloads. The company is headquartered in Cardiff and positions its technology as enabling commercial in-space manufacturing for applications in telecoms, computing, defence and clean energy. The funding is intended to help Space Forge move from demonstration toward regular, reliable delivery of products to market.

Led · Equity · Oct 2025

iCOMAT’s core product is its Rapid Tow Shearing (RTS) process, an automated manufacturing technique that rearranges carbon-fibre tows so components are both lighter and stronger than those made with conventional composite lay-up. The company has just opened the 45,000 sq ft Advanced Composites Manufacturing Enterprise (ACMA) in Hardwicke, Gloucester, equipped with separate 2D-RTS and 3D-RTS production lines for satellite panels, solar-array substrates and curved propellant tanks. By reducing material usage, RTS lowers weight and cost while improving sustainability—critical benefits for spacecraft and satellites. The plant operates on an open-access model, allowing customers and research partners to prototype or scale production with RTS technology. Although designed for space, the same processes can be applied to next-generation aerospace and automotive parts, broadening iCOMAT’s commercial scope. The facility is projected to catalyse 2,000 skilled jobs and anchor a domestic supply chain for advanced composites in the UK. Development of ACMA was financed through a blend of public grants and match funding, underscoring strong institutional support but the article does not disclose any revenue or user metrics for the company.

Led · Equity · Feb 2025

EnSilica develops mixed-signal ASICs and semiconductor chips aimed at satellite user terminals and related communications equipment. The company is using advanced semiconductor technology to build chips compatible with multiple satellite constellations and to provide a secure, independent chip supply not tied to specific operators. Its current project targets high-performance, mass-market satellite broadband user terminals (examples cited include SpaceX’s Starlink and Amazon’s Kuiper) and is supported by letters of interest from potential lead customers. EnSilica has an established history of collaboration with the UK Space Agency, the European Space Agency, and key satellite communications partners. The market for satellite user terminals is projected to reach $16.5 billion by 2031, with each terminal requiring hundreds of specialist chips. The company says its work will reduce cost and power for user terminals and enable resilient internet connectivity in remote or crisis-affected areas.

Led · Grant · Jul 2024

Orbit Fab develops in-orbit refueling systems, including its RAFTI docking and refueling interface and a fuel "shuttle" designed to deliver hydrazine to satellites. The company has three demonstration missions planned in the next 18 to 24 months intended to prove its refueling capability and validate operations for government customers. Those demonstrations are expected to unlock a backlog of more than $40 million in contracts for on-orbit refueling services. Orbit Fab is shifting from a technology-development focus to commercialization under new CEO Peter Shaper, who joined after serving on the board; founding CEO Daniel Faber stepped down. The company sees the U.S. military as its largest initial customer and notes demand in the U.K. and Europe trailing the U.S. by roughly 12 to 18 months. Orbit Fab raised more than $25 million in interim funding from Stride Capital to support operations while it seeks a $30 million to $50 million Series B to fund further demos and its first commercial contracts.

Led · Equity · Jul 2024

SuperSharp is a Cambridge University spin-out developing an unfolding, heat-detecting telescope that fits large apertures into small satellites using its 'self-alignment technology'. The company aims to occupy the middle ground between large, expensive low-earth-orbit imagers and small, low-cost frequent imagers by delivering higher-resolution thermal images at a competitive price point. Its thermal telescope can reportedly identify heat loss at the level of an individual home, enabling applications from building-insulation monitoring to agricultural crop assessment. SuperSharp positions this capability as a potential 'killer app' for thermal satellite imagery, useful to local authorities and homeowners seeking to reduce energy consumption. The startup recently secured £5mn from the UK Space Agency to develop its first in-orbit demonstrator. That demonstrator is scheduled to launch in 2026, and the company’s award is part of a broader UK Space Agency funding package supporting new space technologies.