Space startups raise big money in funding blitz as Europe aims to challenge U.S. dominance

Space companies are attracting hundreds of millions in new investment as startups race to scale and governments seek alternatives to dominant U.S. players such as Elon Musk's SpaceX. A string of new funding rounds, including a 300 million euro ($346 million) raise by satellite manufacturer Open Cosmos announced Monday, is putting fresh capital behind companies seeking to grab a bigger share of the fast-growing commercial space economy.Open Cosmos prioritized European investors aligned with its purpose, CEO Rafel Jordà Siquier told CNBC in an interview. The company said it would use the oversubscribed funding round to build satellite infrastructure, connectivity and real-time intelligence for Europe.The company is raising more capital because of the number of opportunities in space, despite having been profitable for five consecutive years, Jordà said.Space demand means 'there needs to be multiple companies' "There need to be multiple companies, and they will be emerging from everywhere, from the U.S., from Europe, from China, from all over the place," he added. "It's very unlikely that a single company can serve all of that global growth."Open Cosmos' raise comes after a flurry of ...