Vast raised a total of $500m in the financing round, led by Balerion Space Ventures with participation from IQT, QIA, Mitsui, MUFG, Nikon, Space Capital, and Earthrise

Space42 also announced plans to launch Equatys with Viasat to develop direct-to-device satellite connectivity based on 5G non-terrestrial network standards

In 2025, governments, sovereign-backed entities, and private operators across the region shifted from isolated flagship projects to a focus on commercialisation and governance, says Beyond Earth Ventures

The UAE’s orbital expansion included the deployment of several high-impact space assets, among them Thuraya-4, MBZ-SAT, Al Ain Sat-1, HCT-SAT1, and the Foresight Constellation

Sama X is backed by Alghanim Industries, one of the Middle East’s largest privately owned conglomerates

Space42 closed the period with $755m in cash and short-term deposits, contracted future revenue of $6.7bn, and a newly secured $696m ECA-backed financing facility

The Foresight Constellation, which now includes five operational satellites, integrates SAR imagery with Space42’s AI geospatial platform, GIQ, to deliver real-time, decision-grade intelligence

Starlink services have already secured regulatory approvals in Jordan, Oman, Qatar, Bahrain, Yemen, and Lebanon, with the UAE authorising Starlink for maritime operations

Space42’s Foresight Constellation provides persistent, high-resolution imaging regardless of weather

The report notes the UAE’s strategic commitment to space, with a $443m investment in civil space for 2024