Lunar Rover and Asteroid Mining Startups Gather $25M for Their Ventures in Space

Space startups need massive funding to bring their work to the public for all their needs, and the focus of these companies is to bring many advancements in space for the world to experience.

Lunar rovers and asteroid mining are some of the ventures that private companies are looking to do in space, and two startups have already gathered as much as $25 million for this venture.

Lunar Outpost: A Company that Focuses on Lunar Rovers

According to a report by Axios, a company called "Lunar Outpost" recently secured as much as $12 million in its recent round of funding that will help in its ventures of creating lunar rovers. The rovers are the vehicles that can drive around on the Lunar surface, and it may be something that will help future space missions in the natural satellite.

Lunar Outpost also announced this new funding on their Twitter account, saying that its investors from different backgrounds pledged to the advancement of their companies and soon, space. The application of their vehicles is ideal for missions that would require exploration from various locations in space, with the venture coming relevant soon enough.

It will launch by 2023 for its first mission under SpaceX's rideshare program.

AstroForge: Asteroid Mining Soon

On the other hand, SpaceNews reported that another company also secured new funding for their ventures that would focus on another aspect. Mainly, it is with asteroid mining and collecting natural resources from these space rocks.

The company, better known as "AstroForge," is looking into using this funding towards its focus on collecting the materials from space with a massive venture that will help those that need the samples.

Private Space Companies

There are many private space companies now, and they are doing it because they can and want to go on these ventures that will bring a massive impact on the world. It is bringing their knowledge and technology to everyone. Still, NASA is one of the first to popularize space travels and ventures, and the company is still doing this with its Luar mission that will focus on an outpost called the CAPSTONE and Gateway.

However, there are massive names in the industry regarding the many space ventures done in the past and will be coming in the future. SpaceX is one of those companies. The company is preparing to launch a spacewalk for the Polaris, focusing on bringing astronauts to space again, a mission that it already did before.

Other companies include Arianespace, Blue Origin, Boeing, ULA, and more.

Private space companies are thriving in this line of work, and maybe, several decades ago, they would have had a hard time securing funding and even support from NASA regarding these modern missions. It only shows that space is accessible for all, and it brings an experience for all that would help in human advancement.

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Written by Isaiah Richard