Finnish satellite company raises €45M to expand manufacturing
Helsinki-based space technology company ReOrbit has closed a EUR 45 million Series A funding round to scale production of sovereign satellites and connected systems for national security.
The deal marks the largest all-equity Series A round in Finland and a significant investment in Europe's space and defence sector, according to a press release.
The round was led by Springvest with participation from Varma, Elo, Icebreaker.vc, Expansion VC, 10x Founders and Inventure VC.
ReOrbit develops satellites and connected systems designed to provide nations with independent communications, intelligence capabilities and control of critical space assets. Its technologies are aimed at both defence and civilian applications, supporting national autonomy and resilience.
“Closing a €45 million Series A is a milestone not only for ReOrbit, but for Europe’s space and defence sector,” said ReOrbit CEO and founder Sethu Saveda Suvanam. “This investment enables us to meet growing demand, ensuring that nations can operate critical space systems independently and with full control.”
The company said it has secured multiple contracts and is seeing increased demand from Asia, the Middle East and Europe. The company says that the new funding will be used to expand manufacturing capacity, advance proprietary technologies and open local satellite centres in several countries within the next year.