Following an initial €7 million round in 2022, French smallsat manufacturer and a member of our New Space market group U-Space has secured a new €24 million Series A to scale production, deepen international expansion and reinforce Europe’s role in the global satellite constellation market.
The round was led by Blast and the French Ministry of Armed Forces’ Definvest fund managed by Bpifrance, alongside Expansion, Primo Capital (through the Primo Space Fund), Karot Capital, ARIS, CapSpace and Vertech Finance. The investment reflects both renewed confidence from longstanding partners and the arrival of new backers drawn by U-Space’s commercial traction, technical maturity and clear industrial roadmap.
Since 2018, U-Space has built its reputation across the full satellite value chain – design, assembly, testing and in-orbit operations – and today operates its own mission control centre in Toulouse. With three satellites already in orbit and around ten more scheduled for production and delivery over the coming year, the company has become a recognised player in the European market. Its portfolio includes collaborations with CNES, Safran and international partners such as the UAE’s National Space Science and Technology Center (NSSTC).
Investors highlighted U-Space’s position and growth potential in a rapidly expanding sector. Ilaria Cavalleri, Investment Principal at Primo Space Fund, noted:
“U-Space’s position within the value chain, combined with its technological expertise, gives it highly promising commercial potential. We are confident that the company has all the assets needed to establish itself as Europe’s leading manufacturer in the small satellite constellation market.”
Expansion founder Charles Beigbeder added:
“Since inception, the founding team at U-Space has successfully reached critical milestones transforming a project into a fully-fledged industrial enterprise. With several satellites launched, including the first European space-based SSA satellite, U-Space has already demonstrated a strong space heritage and the high reliability of its in-orbit systems. We're deeply convinced the combination of industrial expertise, and their business vision promise a bright future to U-Space.”
At the core of the company’s industrial strategy is the U-Zine, an 850 m² cleanroom inaugurated at the end of 2024. Designed around lessons from the automotive sector, the facility enables a shift toward serial production—ultimately targeting a cadence of one satellite per day. The funding round will accelerate software development and digitalisation across the factory, enabling a first milestone of one satellite per week by 2027.
The Series A will also allow U-Space to strengthen its commercial team as it scales from a European leader to a global supplier of smallsat constellations.
U-Space’s trajectory combines industrial execution, modular platforms (12U and FreeForm), proprietary software, proven in-orbit operations and the ability to deliver satellites on short timelines – all critical capabilities for next-generation constellations. As demand accelerates worldwide, the company is now positioned to advance its leadership ambitions and contribute strategically to Europe’s competitiveness in global space manufacturing.
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