Sofia-based EnduroSat, which streamlines space missions by building and operating advanced satellites, has secured €43 million in funding led by Founders Fund, joined by CEECAT Capital and Morphosis Capital.
- Founded in 2015 by Raycho Raychev, EnduroSat builds modular, software-defined satellites for a wide range of commercial and government applications.
- Its flagship platform, the Endurance Gen3 ESPA-class satellite, supports payloads such as hyperspectral imaging, synthetic aperture radar, broadband, and navigation, delivering up to 3.5 kW of power and 2 Gbps of data transmission.
- The company provides an integrated service model, managing everything from satellite design to launch and operations, enabling clients to deploy constellations without developing their infrastructure.
"Our mission is to make space universally accessible, because this fundamentally improves life on earth. We’re taking the complexity out of space missions by building and operating the space infrastructure our customers need, so they can focus on the next wave of innovation in space applications," Founder and CEO of EnduroSat, Raycho Raychev, commented.
- With more than 3,000 modules in orbit and over 350 customers worldwide, EnduroSat is expanding production through a new 17,500 m² facility in Sofia, which is expected to produce up to 60 satellites per month by the end of 2025.
Details of the deal
- Founders Fund, a venture capital firm based in San Francisco that invests in companies at all stages and industries, led the funding round. Its partners have helped start and support well-known companies like PayPal, SpaceX, Airbnb, and Stripe.
- The round also saw participation from CEECAT Capital, Morphosis Capital, and other returning investors.
- EnduroSat will use the €43 million to scale production of its new Endurance Gen3 satellites, expand its constellations-as-a-service model, and build a large new facility in Sofia to produce up to 60 monthly satellites by 2025.
- The funding will also support expanding US operations with a dedicated cleanroom to better serve commercial and defense clients.
