Top Space Startups to Watch (and Work for) in 2023

My Background

Hi, I'm Kieran! I worked in startups for five years at On Deck and Wefunder. Some of my favorite things that I've worked on during my career include:

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Wefunder Workaway: 12 founders working on a new idea, 7 days, 1 mansion in Hawaii. One of the teams we picked raised a Series A from Andreessen Horowitz, and two people who met during the trip got married...

On Deck: As employee #15, I contributed to the startup's growth from no revenue to a $20 million run rate in less than a year. I led the team that built the admission infrastructure to support and scale ~20 fellowships for founders, capital allocators, operators, and creators.

XX: Worked on a pre-YC accelerator program that invested $125K on an MFN SAFE into 8-10 teams per cohort.

ODX: Worked on a $100 million accelerator program that invested $125K for 7% into 100s of startups. We partnered with leaders like Flexport to build vertical industry tracks around supply chain & logistics, etc.

Ryan Marketing: Created an influencer marketing startup (2 million+ Instagram followers) during college with my twin brother and realized early that monetization for creators was broken. I learned a lot, and it paid enough to cover my schooling, rent, and meals.

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The Methodology

I considered several data points to arrive at the startups selected on this list, including company traction, funding raised, valuation, and investors. From my initial list, I then referenced each startup with my personal network to narrow down the list to the one you see below. I take my credibility seriously, so I do not take any money from startups who want to be included on this list to remain impartial. If you want to understand my analysis of startups and prefer long-form content, read my research on the top startups of 2023 afterward.

SpaceX

SpaceX designs, manufactures, and launches advanced rockets and spacecraft.

Headquarters

Hawthorne, California

Industry

Space, Hardware, Aerospace

Founded

2002

Funding

$9.8 billion

Valuation

$137 billion

Traction

As of May 2023, SpaceX has 230 total launches, 191 total landings, and 165 total reflights.

As of May 2023, SpaceX has launched 1272 metric tons of payload into various orbits.

In 2022, SpaceX completed 61 launches.

Full Profile

Hadrian

A series of highly automated precision component factories across the US to enable Space & Defense manufacturers to get parts 10x faster.

Headquarters

Hawthorne, California

Industry

Space, Hardware

Founded

2020

Funding

$99.5 million

Valuation

Undisclosed

Traction

As of June 2023, Hadrian can deliver flight-grade machined parts in 5-21 days.

As of June 2023, Hadrian has completed Factory 1 in Hawthorne, California, and is working on Factory 2.

As of March 2022, Hadrian claims it can make space and defense parts 10x faster and more efficient than anyone else.

Full Profile

Varda

A platform for in-space manufacturing.

Headquarters

Torrance, California

Industry

Space, Hardware

Founded

2020

Funding

$51 million

Valuation

$500 million

Traction

In July 2023, Varda won a $1.9 million NASA Tipping Point contract.

In June 2023, Varda launched the world’s first commercial space factory into orbit on SpaceX’s Transporter-8 mission.

Full Profile

Blue Origin

An American aerospace and space exploration company.

Headquarters

Kent, Washington

Industry

Space, Hardware, Aerospace

Founded

2000

Funding

$167.4 million

Valuation

Undisclosed

Traction

Blue Origin’s New Shepard rocket has had 22 successful consecutive missions, including three escape tests.

Blue Origin’s New Shepard and New Glenn rockets have vertical take-off and landing architecture that have been reused 25 times with minimal refurbishment.

Full Profile

Vast

Live in space.

Headquarters

Long Beach, California

Industry

Space, Hardware

Founded

2021

Funding

Undisclosed

Valuation

Undisclosed

Traction

Vast’s first live-in space for 30 days in a private space station mission is set to launch in August 2025 on SpaceX Falcon 9 rocket.

Full Profile

Accion Systems

Redefining space mobility.

Headquarters

Boston, Massachusetts

Industry

Space, Hardware

Founded

2014

Funding

$68.5 million

Valuation

Undisclosed

Traction

Accion Systems' partners include MIT, Boeing, NASA, JPL, and the United States Department of Defense.

As of July 2021, Accion Systems was building its fourth-generation TILE propulsion system.

Full Profile

SpinLaunch

A space technology company that has created an alternative method for putting 200 kg class satellites into low earth orbit.

Headquarters

Long Beach, California

Industry

Space, Hardware

Founded

2014

Funding

$146 million

Valuation

Undisclosed

Traction

In October 2022, SpinLaunch successfully launched its 10th suborbital test launch.

Full Profile

LeoLabs

Propelling the dynamic space era.

Headquarters

Menlo Park, California

Industry

Space, Hardware

Founded

2016

Funding

$82 million

Valuation

Undisclosed

Traction

As of June 2023, LeoLabs has ten independent radars across six operational sites.

Full Profile

Capella Space

An American space tech company with data and satellite solutions for government and commercial use.

Headquarters

San Francisco, California

Industry

Space, Hardware, Defense

Founded

2016

Funding

$239 million

Valuation

Undisclosed

Traction

From April 2021 to April 2022, Capella Space doubled its revenue.

Capella Space customers include the United States Airforce and National Reconnaissance Office.

In 2020, Capella Space successfully launched the first operational U.S. SAR satellite, Capella-2.

Full Profile

K2 Space

Building satellite buses.

Headquarters

Torrance, California

Industry

Space, Hardware

Founded

2022

Funding

$8.5 million

Valuation

Undisclosed

Traction

As of March 2023, K2 Space has customer LOIs for commercial science and defense applications.

As of March 2023, K2 Space plans to launch its first Mega class spacecraft in 2025.

Full Profile

Relativity Space

An American aerospace manufacturing company.

Headquarters

Long Beach, California

Industry

Space, Hardware, Aerospace

Founded

2015

Funding

$1.3 billion

Valuation

$4.2 billion

Traction

In March 2023, Terran 1, a rocket made by Relativity Space, became the first methane-fueled rocket in the West to reach space. Additionally, Terran 1 became the first nearly entirely 3D rocket to fly.