Open Cosmos Secures €300 Million for Satellite Expansion
UK satellite manufacturer Open Cosmos has raised €300 million in new funding to scale production of its Earth observation and communications
UK-based satellite maker Open Cosmos announced on 14 September that it closed a €300 million funding round. The company will use the capital to expand its manufacturing capacity and accelerate the deployment of its Earth observation and communications satellite constellations.
This round is the firm's first major publicly announced funding since a $50 million Series B in September 2023. Lead investors included venture firms Lightrock, ETF Partners, and Entrepreneurs First, alongside Catalonia's public financial institution, Institut Català de Finances. Two unnamed international pension funds also participated as lead investors.
CEO Rafel Jorda Siquier stated the investment supports a vision to integrate satellites, secure communications, and AI-driven data services. This investment allows us to accelerate that vision, satisfying the satellite manufacturing orders that governments and large companies are placing for our reliable and high-performance satellites, he said.
Manufacturing and Contract Backlog
Open Cosmos claims its four European manufacturing facilities currently possess a combined capacity to produce one satellite per day. The company also revealed it has secured more than $370 million in customer contracts over the past three and a half years.
The new €300 million will fund the expansion of its three core programs: the OpenConstellation Earth observation network, the ConnectedCosmos communications constellation, and the DataCosmos satellite intelligence platform. This growth will be underpinned by scaling what the company calls its "mass manufacturing capabilities," though specific new production targets were not disclosed.
European Investment Surge
The funding for Open Cosmos is part of a broader wave of private investment flowing into European space companies this year. A series of major raises have been announced recently.
| Company | Funding Round | Amount |
|---|---|---|
| ICEYE | Primary Funding | €450 million |
| Isar Aerospace | Series D | €270 million |
| PLD Space | Series C Extension | €108 million |
| HyImpulse | Additional Funding | >€50 million |
| The Exploration Company | Funding Round | $450 million |
| Open Cosmos | Funding Round | €300 million |
According to the source, this trend appears to have accelerated in just the past two weeks, with the rounds from PLD Space, HyImpulse, The Exploration Company, and Open Cosmos together representing a massive influx of capital. Analysts link this surge to growing government emphasis across Europe on developing sovereign space capabilities, which is driving demand for reliable satellite manufacturing and data services from companies like Open Cosmos.
