In an interview to CNBC-TV18, Niewinski emphasised that while venture capital-backed space tech startups secured $6 billion in funding in 2024, the amount is poised to increase significantly in the near future.
“The number for 2024, it’s not that big. I believe it’s going to be much bigger soon,” Niewinski stated. He pointed out that space tech is as crucial as artificial intelligence, with both fields playing a vital role in shaping the future. Notably, AI is expected to contribute to advancements in space exploration and technological breakthroughs, reinforcing the synergy between the two domains.
According to Niewinski, one of the primary drivers behind this anticipated surge is the increasing involvement of corporate players in utilising space-derived data. Historically, space technology was primarily funded and controlled by governments, with innovations like GPS and satellite communication gradually benefiting society. However, the landscape is rapidly evolving. “We now see a lot of corporates starting to use space tech data,” Niewinski observed, signalling a shift towards commercial adoption and investment in the industry.
Below are the excerpts from the interview.
Q: In 2024, venture capital-backed space tech startups secured $6 billion in funding. What were the reasons behind this surge, and do you see this trend continue in 2025 as well?
Niewinski: Yes, I do believe that space tech is the next big thing. It is probably hard to judge whether AI is bigger or space tech is bigger because these are completely two different areas. But I would say they both are equally important, because, AI will also help to develop new technologies and to grow our presence in space. So, the number for 2024, it’s not that big, I believe it’s going to be much bigger soon.
Q: How big?
Niewinski: I honestly don’t know. You have different reports from different consulting companies- I’ve seen a $60 billion number from McKinsey, but the most important thing is that the world is changing, and we now see a lot of corporations starting to use space tech data. It used to be that space tech was mainly the area for government. So, the governments were funding space and were taking advantage of data from space, sometimes bringing it to society, like through GPS navigation and communication. Then we had satellite TVs and even more communication coming from space observation. But people were not really actively using data from space that much, but that is changing right now.
Q: This escalating US-China rivalry has been cited as one of the key factors because of which we’re seeing increasing investments in space tech. How do these geopolitical dynamics impact your investment strategies in the sector?
Niewinski: It’s always been the case that some of the countries who are competing against each other, it was pushing the advancement. We have seen this with JFK in the US declaring that they are going to be sending people to the moon, just because Russia sent Sputnik to space. Today, China, India, and many other countries are actively developing in space, and so the US, Europe, and others I would say important countries and important governments need to do the same. It is like if you need to be in space and if you do not have your own launchers if you do not have your own satellite communication if you are not playing a part of this game, then you will be nowhere in 10 to 20 years time because space is going to develop. And it’s not just for fun. It’s not just for someone to say, we will send people to the moon. It’s exciting, but it used to be not really commercially driven, but today it is.
Watch the accompanying video for the entire conversation.
