Seraphim Space, a UK-based venture capital firm focused on spacetech, has weighed in on the shifting landscape of the space industry. CEO Mark Boggett asserts that Europe is “catching up” to the United States, a development he attributes to several converging trends.
According to Boggett, the upcoming SpaceX IPO is a pivotal catalyst, drawing institutional attention and increasing deal sizes across the board. European startups are now raising larger rounds, and the region is benefiting from a strategic pivot towards defence applications among emerging spacetech firms.
The comments suggest a maturing ecosystem. While the US has long dominated headline-grabbing launches and valuations, European companies are now positioning themselves as credible alternatives, particularly in dual-use technologies that serve both civilian and military markets.
This shift signals a broader realignment of the global space economy. As defence budgets tighten and governments seek sovereign capabilities, European startups could capture a larger share of a market projected to grow substantially. The defence angle, in particular, opens new funding avenues and strategic partnerships.
The counter argument remains that the US retains overwhelming advantages in capital availability, launch infrastructure, and government contracts. Without comparable scale or NASA-level anchor programmes, Europe's catch-up narrative may face structural headwinds.