EIC Scaling Club company EnduroSat has raised €89.9 million in new funding from Riot Ventures, Google Ventures, Lux Capital, the European Innovation Council, and Shrug Capital to accelerate the production of its modular satellite platforms. The announcement coincides with the opening of EnduroSat’s new 188,000-square-foot Space Center in Sofia, Bulgaria, designed to scale production of its Frame ESPA-class satellites to up to two per day.

The investment marks the company’s second funding round this year, reflecting strong investor confidence and continued momentum in Europe’s space technology sector. It comes as demand grows for small and medium satellite constellations that support secure communications networks and earth observation systems for commercial and public customers.

EnduroSat’s new generation of Frame satellites introduces a cableless design that enables assembly and testing within hours — a leap forward in cost-efficiency and deployment speed for satellite missions.

“Our mission at EnduroSat is to simplify and streamline access to space, making space data a powerful tool for innovation across all industries,” said Raycho Raychev, Founder and CEO of EnduroSat. “This latest investment, combined with the launch of our new Space Center, marks a pivotal moment. It not only validates our strong market traction but significantly accelerates our ability to deliver highly capable, cost-effective satellite constellations at an unprecedented scale, moving us closer to a future where space data will become universally accessible and instantly available.”

To meet rising customer demand, the new facility features advanced RF, hardware and mechanical laboratories, ISO-classified clean rooms, and full space qualification capabilities — delivering the flexibility and throughput required for the next generation of satellite missions.

Investors backing the round expressed their confidence in EnduroSat’s vision and execution:

“EnduroSat is redefining how space infrastructure is built and deployed," said Stephen Marcus, Co-Founder and General Partner of Riot Ventures. "Their production capabilities are aligned with the evolving demands of a new generation of satellite operators.”

A cost-effective path to space

EnduroSat provides satellite constellations-as-a-service to commercial and governmental partners, enabling rapid deployment of customised missions. Its modular, cost-effective satellite platforms are designed to make space access simpler, faster, and more efficient — supporting communications, earth observation, and data-driven innovation worldwide.

This scalable business model, providing a platform for in-orbit services and data transactions from hundreds of sensors, is the base for a high-margin, recurring revenue stream.

“At GV, we believe the next era of connectivity and exploration will be fueled by scalable, modular satellite platforms,” said Roni Hiranand, Partner at GV (Google Ventures). “EnduroSat’s technical depth, rapid manufacturing innovation, and customer-first mindset uniquely position them to set a new standard for satellite constellations.”

 

About the EIC Scaling Club

The EIC Scaling Club is a curated community where 120+ European deep tech scale-ups with the potential to build world-class businesses and solve major global challenges come together with investors, corporate innovators and other industry stakeholders to spur growth.

The top 120+ European deep tech companies will be carefully selected from a pool of high-growth scale-ups that have benefitted from EIC financial schemes, other European and national innovation programmes, and beyond.

The EIC Scaling Club is an EIC-funded initiative run in partnership by Tech Tour, Bpifrance (EuroQuity), Hello Tomorrow, Tech.eu (Webrazzi), EurA and IESE Business School.

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