Sofia-based EnduroSat, which builds and operates advanced satellites, has secured $104 million in funding to open a new Space Center and meet growing demand for small- to mid-sized constellations.
- Established in 2015 by Raycho Raychev, EnduroSat develops modular, software-defined satellites for commercial and government applications. The company operates globally, serving over 350 clients and employing more than 230 space professionals across six locations.
- Its flagship Endurance Gen3 ESPA-class platform delivers up to 3.5 kW of power and 2 Gbps of data transmission, supporting a range of payloads including hyperspectral imaging, synthetic aperture radar, broadband, and navigation.
- EnduroSat also provides integrated space services, managing the complete mission lifecycle from design and manufacturing to launch and operations, and has over 3,000 modules in orbit with more than 120 satellites delivered and 200 TB of data downlinked.
- In May 2025, the firm raised $43 million in a funding round led by Founders Fund, with participation from CEECAT Capital and Morphosis Capital, to scale production of its new Endurance Gen3 satellites and expand its US operations.
Details of the deal
- The fresh capital came from Riot Ventures, Google Ventures, Lux Capital, the European Innovation Council Fund, and Shrug Capital.
"EnduroSat is redefining how space infrastructure is built and deployed. Their production capabilities are aligned with the evolving demands of a new generation of satellite operators. We believe EnduroSat is uniquely positioned to empower businesses and governments to leverage the advantages of their own dedicated space assets, and we’re excited to support this vision," claims Stephen Marcus, co-founder and General Partner of Riot Ventures.
- The fresh capital will be used to expand EnduroSat’s production capabilities, accelerate time-to-orbit, and operate its new state-of-the-art Space Center in Sofia, enabling the manufacture of up to two satellites per day with advanced labs, clean rooms, and space qualification facilities.
"This latest investment, combined with the launch of our new Space Center, marks a pivotal moment. It not only validates our strong market traction but significantly accelerates our ability to deliver highly capable, cost-effective satellite constellations at an unprecedented scale, moving us closer to a future where space data will become universally accessible and instantly available," explains Raycho Raychev, CEO and Founder of EnduroSat.
