Bulgarian satellite manufacturer EnduroSat has secured $104 million in new funding to ramp up its small satellite manufacturing capacity.
EnduroSat was founded in 2015, and in late 2023, after closing a $10 million Series A funding round and opening a 3,200-square-metre facility, the company announced it could assemble, test, and deliver ten cubesats per month. In May 2025, EnduroSat closed a €43 million funding round led by Founders Fund. The funding was expected to support the construction of a new 17,500-square-metre facility in Sofia to scale production of its new 200–500 kg ESPA-class satellite platform.
On 30 October 2025, the company officially opened its new production facility in Sofia and announced that it had raised an additional $104 million in funding to accelerate its production ramp-up. The new funding round included participation from Riot Ventures, Google Ventures, Lux Capital, Shrug Capital, and the European Innovation Council Fund, a European Union-backed venture capital fund.
“EnduroSat’s trajectory follows one of the great industrial playbooks of our time,” said Brandon Reeves, Partner at Lux Capital. “Much like BYD began building battery components before vertically integrating into complete vehicles, EnduroSat started by building best-in-class subsystems for the space industry and has moved up the stack to now building satellites and full constellation solutions.”
Once operating at full capacity, the new production facility will be capable of manufacturing two 200–500 kg satellites per day. According to the company, this expanded capacity will enable it to meet the growing global demand for small- to medium-sized satellite constellations.
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