Venture funding for space technology startups is soaring to record levels, with over $12 billion raised last year alone. The sector is defying broader startup trends, hitting fresh highs as more than two dozen companies secured rounds of $100 million or more in the past year. This surge comes despite uneven rebounds in most other tech sectors.

SpaceX, the industry's dominant player, is reportedly seeking a $1.5 trillion valuation for an anticipated IPO later this year. Other major players include Stoke Space, which raised $860 million in a Series D extension, and Axiom Space, which closed $350 million in February. Google spinout Aalyria also secured $100 million in Series B funding this week.

The IPO market has been receptive to space tech companies, though results have been mixed. While Karman Space & Defense's valuation recently exceeded $11 billion, others like Firefly Aerospace have seen shares shed about half their value since going public. With large financings, regular IPO activity, and SpaceX's massive offering on the horizon, the space tech sector shows no signs of slowing down.