INVESTING IN THE CUTTING EDGE

Feature Story
Space Copy - The in-space manufacturing future

Company: Space Copy
Founded: 2022
Headquarters: Edmonton, Canada
Funding: Pre-seed (Techstars, NASA); $5M seed round; HackerNoon Startup of the Year regional award
Space Copy is pioneering multi-purpose 3D printing systems for extreme environments, targeting a nascent ISRU market projected to reach $12.7 billion by 2032 while offering unique dual-use capabilities that could revolutionize both terrestrial disaster response and lunar manufacturing.
Why They Matter
The company addresses two high-growth markets converging around resource scarcity and supply chain vulnerabilities. The global ISRU market is projected to grow from $2.5 billion in 2023 to $12.7 billion by 2032 at a 19.7% CAGR, driven by lunar missions and Mars exploration programs. Space-based 3D printing specifically is expected to expand at 21.2% CAGR through 2028. Simultaneously, extreme environment manufacturing is growing at 5.8% annually, reaching $4.5 billion by 2029. Space Copy's dual-use technology positions it to capture value across both terrestrial and space applications, addressing the $400k to $1m per kilogram cost of transporting supplies to deeper space missions.
Traction
Space Copy has achieved significant recognition and partnerships within 30 months of founding. The company was named HackerNoon's 2024 Startup of the Year for its region, validating market interest in its approach. Space Copy has established research partnerships including collaboration with Orbital TOM on lunar regolith processing for the European Space Agency's Space Resources Challenge. CEO Madison Feehan brings NASA experience in planetary science and lunar instrument development, while the company has secured multiple pending contracts and international R&D partnerships. Space Copy's $5m in seed funding presents a strong signal for development into this market segment.
Investment thesis
Space Copy offers a differentiated investment opportunity as a dual-use technology provider in the rapidly expanding markets of in-situ resource utilization (ISRU) and extreme environment manufacturing, targeting a projected $12.7 billion lunar manufacturing market and $4.5 billion terrestrial response sector; with first-mover technical and IP defensibility, government validation, and a growing pipeline of partnerships, Space Copy is positioned to deliver outsized returns as lunar missions and planetary infrastructure development become mission-critical for space agencies and private industry.
Learn more at spacecopy.com
Quote of the Week
The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever
What’s Happening in the Market
CAPITAL OBSERVATORY 🔭
Space investments continue to grow at a stellar pace - 2024 saw a yoy increase of 75% and 2025 is no different
Expectation in bonds are too unrealistic, a long term sign that we as a market are in need of refinements and diversification. The signals from the venture capital market is showing the way with new AI enabled segments
Figure reaches an escape velocity valuation of $39B - Advance robotics in general have great untapped market potential. Especially as we venture into Space

Joey Politano
Reindustrialization
Spending on construction is at decade high. However, the long tail effects from suppliers and service providers are still lagging behind. Expect increased spending in all sectors as the US acts to compete with other countries.

2025 US Seed Stage
ALUMNI VENTURES ANNOUNCES UPCOMING DEEP-TECH FUND
Carter’s Peter Walker detailed analysis on Seed stage startup market.
“Seed founders should obsess a little less on valuation.”
Tech stocks tumble, the reality of hype-driven AI finally hits the markets. A billion users doesn’t equate to unquestionable value. Applications, service layers, and proper advancement of humanity is what drives true value. The end of empty shelled GPT wrappers seem to be in site.
California Forever’s Utopian city project continues to make headways in frontier-tech investments. The US is in desperate need of new dedicated innovation cities like other counterpart countries. These investments become the backbone for untold innovation decades and centuries down the line.
HOW WE CAN HELP
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"Insights from the Cutting Edge" is published by Actuate Ventures. Visit actuateventures.co to learn more.
Disclaimer: This newsletter is for informational purposes only and does not constitute investment advice.
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