One of the most exciting publicly traded space companies in Canada has just landed an enormous deal to build the future of robotics for orbit.
What’s happening:
- Space technology company MDA Space (TSX:MDA) has announced they have been awarded $1 billion from the Canadian Space Agency to help advance the Canadarm3 mission
Why it matters:
- The Canadarm3 mission is a collaboration between the Canadian Space Agency and NASA which is aiming to build a functioning space station in lunar orbit to support missions by both humans and robotics to the surface of the Moon
Going deeper:
- MDA Space has developed multiple innovative robotics that are purpose built for space exploration, infrastructure development and resource extraction
- Publicly traded companies focused on space exploration have been starting to make significant breakthroughs lately, with a notable successful launch into orbit from Intuitive Machines (NASDAQ: LUNR) which was done in collaboration with Elon Musk’s SpaceX
The intrigue:
- Venture backed space startups have also been on the rise recently, with Varda Space previously raising a mega funding round to accelerate drug development in orbit and Interlune previously raising a seed round led by Reddit co-founder Alexis Ohanian to extract helium from the Moon
