Finnish satellite manufacturer ReOrbit has closed a €45 million Series A funding round, part of which will be used to expand its manufacturing capacity.
Founded in 2019, ReOrbit manufactures a range of small Earth observation and communications satellites for both civil and defence applications. Prior to its Series A, the company’s most recent round was an oversubscribed $7.4 million Seed raise in 2023.
ReOrbit announced the closing of its Series A on 9 September. The round was led by Helsinki-based growth investment platform Springvest, with participation from Varma and Elo. It also included continued backing from Seed investors Inventure VC, Icebreaker.vc, 10x Founders, and Expansion VC.
“This investment enables us to meet growing demand, ensuring that nations can operate critical space systems independently and with full control,” said ReOrbit CEO Sethu Saveda Suvanam. “In today’s geopolitical environment, reliance on external parties is a risk no country can accept. ReOrbit ensures they never have to.”
According to the company, the new funding will enable it to expand its manufacturing capability to meet increasing demand from Asia, the Middle East, and Europe. It will also be used to support the opening of a number of satellite centres over the next 12 months.
Beyond the company itself, the raise adds to a wider trend of rising investor confidence in the European space industry. The round is one of the largest in the European space tech sector, surpassing The Exploration Company’s €40 million Series A and falling just short of Look Up’s €50 million round from earlier this year. However, unlike Look Up’s round, which was a mix of equity and other instruments, ReOrbit’s funding was made up entirely of equity. This matters because an all-equity raise signals stronger investor confidence and gives the company greater flexibility without the burden of debt or hybrid financing.
The rise in investor confidence is being driven in large part by a geopolitical environment in which nations are increasingly wary of relying on foreign technology for critical capabilities. This sentiment was echoed in ReOrbit’s 9 September announcement, both in comments from its CEO and in the repeated use of the phrase “sovereign satellites” throughout the press release.
Keep European Spaceflight Independent
Your donation will help European Spaceflight to continue digging into the stories others miss. Every euro keeps our reporting alive.
Great space news channel for Europe!