根据全球投资公司Seraphim的一份报告，空间初创公司在第三季度吸引了创纪录的208亿美元融资，因为投资者向发射服务商、制造业及其他基础设施项目注入资金。
Space startups attracted a record $20.8 billion in funding in the third quarter, as investors poured money into launch providers, manufacturing and other infrastructure ventures, according to a report by global investment firm Seraphim.
该数额几乎是第二季度74亿美元投资的三倍，也超过了之前的峰值。不计入蓝色起源的100亿美元融资，投资仍达到历史最高的108亿美元，凸显整个行业需求的增长。
The figure was nearly triple the $7.4 billion invested in the second quarter and more than double the prior peak. Excluding Blue Origin's $10 billion financing, investment was still at an all-time high of $10.8 billion, underscoring growing demand across the sector.
该报告于周三发布，还显示本季度完成创纪录的216笔交易，较前三个月的140笔有所增加。
The report, released on Wednesday, also showed a record 216 deals were completed during the quarter, up from 140 in the previous three months.
虽然SpaceX仍是行业中的主导力量，但Seraphim表示，最近的融资也得益于商业订单和政府支持项目日益增长的管道。
While SpaceX remains a dominant force in the industry, recent fundraising has been supported by a growing pipeline of commercial orders and government-backed programs, according to Seraphim.
“资本正在追随商业和机构需求的证据，而不仅仅是残留的IPO热情，”Seraphim Space副总裁卢卡斯·毕肖普说。
"Capital is following evidence of commercial and institutional demand, not just residual IPO enthusiasm," said Lucas Bishop, vice president at Seraphim Space.
基础设施相关企业占融资活动的主要部分。从事发射和更广泛的太空准入的公司在120笔交易中共吸引了164亿美元，而卫星通信、地球观测和其他太空服务公司融资了40亿美元。
Infrastructure-related businesses accounted for the bulk of the funding activity. Companies involved in launch and broader space access attracted $16.4 billion across 120 deals, while satellite communications, Earth observation and other space-service companies raised $4 billion.
毕肖普表示，随着政府优先发展国内太空能力，国防和主权需求正日益支持发射、制造和轨道基础设施的投资。
Defense and sovereign demand are increasingly supporting investment in launch, manufacturing and orbital infrastructure as governments prioritize domestic space capabilities, Bishop said.
本季度的主要融资轮次包括哈德良公司的13.7亿美元、Stoke Space的10亿美元和K2 Space的5亿美元。
The quarter's major fundraising rounds included $1.37 billion for Hadrian, $1 billion for Stoke Space and $500 million for K2 Space.
然而，私人投资的激增与上市太空公司表现疲弱形成对比。毕肖普表示，许多公开交易的太空公司仍处于亏损状态，而SpaceX的规模和知名度可能吸引了投资者的注意力，使其远离较小的上市同行。
However, the surge in private investment was in contrast with weaker performance among listed space companies. Bishop said many publicly traded space firms remain loss-making, while SpaceX's scale and visibility may have drawn investor attention away from smaller listed peers.
北美占全球融资总额的约70%，而中国在49笔交易中录得季度最高融资额33亿美元。
North America accounted for about 70% of global funding year-to-date, while China recorded a quarterly high of $3.3 billion across 49 deals.
塞拉菲姆表示，融资额可能会从第三季度的特殊水平回落，但仍将高于历史平均水平，因为更多公司将进入成长和扩张阶段。
Seraphim said funding was likely to moderate from the third-quarter's exceptional level, but remain above historical norms as more companies enter growth and scale-up phases.