FOSSA Systems, a Spanish scale-up from our New Space group, has raised €9.25 million to accelerate the deployment of its secure communications satellite constellation and advance new capabilities in security and defence. The Madrid-based company provides satellite connectivity services for remote and hard-to-reach areas through its constellation of nanosatellites.
The round is led by Kibo Ventures, with participation from the Spanish Society for Technological Transformation (SETT), Space Frontiers Fund II, Indico Capital Partners and WISeSAT. According to the company, the new funding will support its international expansion, the development of sovereign satellite capabilities and the continued deployment of its planned constellation of 140 Low Earth Orbit satellites (LEO).
What the funding will support
The new round marks another step in FOSSA’s transition from satellite deployment to broader commercial and strategic infrastructure. The company plans to use the funding to:
- strengthen its team;
- accelerate the commercial expansion started in 2024;
- develop new capabilities focused on security and defence; and
- continue deploying its constellation of 140 LEO satellites.
FOSSA says it will launch its 26th satellite in the coming weeks. Since its founding in 2020, the company has launched more than 25 satellites and now employs around 60 people across Spain and Portugal.
Building sovereign satellite infrastructure for remote connectivity
FOSSA develops satellite internet of things (IOT) connectivity, secure communications and space-based intelligence solutions. In simple terms, its technology helps connect and monitor assets in places where terrestrial networks are unavailable or unreliable, from industrial sites and logistics routes to critical infrastructure and national security applications.
The company has developed its own technological infrastructure, including satellite constellations ranging from 10 kg to more than 150 kg. Its IOT network is designed to provide connectivity and strategic capabilities in areas without terrestrial coverage.
Expanding in defence, security and international markets
The funding comes as space infrastructure becomes increasingly strategic for governments and companies. Satellite connectivity, Earth observation, signals intelligence and secure communications are becoming important capabilities in an environment where technological autonomy and resilience are high priorities.
FOSSA has also strengthened its position in defence and security. The company has been selected for NATO’s DIANA programme for its electromagnetic intelligence capabilities from LEO and its dual-use technologies. It is also expanding internationally, including through a third office in Tokyo and a strategic agreement with Kanematsu Corporation to deploy its technologies in the Japanese defence market.
Julián Fernández, CEO and co-founder of FOSSA, said:
‘Thanks to FOSSA, small nations, Ministries of Defence, and global corporations can define and execute their own space strategy in just a few months, while the vertical integration of the entire technology chain has allowed us to reduce costs by an order of magnitude. [...] Our goal is to establish FOSSA as a European benchmark in sovereign space infrastructure.’
Juan López Santamaría, Partner at Kibo Ventures, added:
‘Europe needs technological champions capable of reducing dependencies in strategic sectors. FOSSA has demonstrated that it can develop and operate sovereign space infrastructure with exceptional speed and efficiency.’
As part of the round, Kibo Ventures will join FOSSA’s board of directors. The €9.25 million investment brings the company’s total funding since inception to nearly €20 million.
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