ReOrbit Secures Record Funding to Challenge SpaceX’s Starlink in Europe
▼ Summary
– ReOrbit, a Finnish startup, raised a record €45 million Series A funding to support sovereign satellite operations for nations.
– The company provides both hardware and software, offering an affordable alternative to Starlink with full ownership for client countries.
– ReOrbit’s software can operate both geostationary and low earth orbit satellites, crucial for defense and infrastructure needs.
– The startup has secured a major contract worth hundreds of millions and multiple MOUs, aiming for €1 billion in orders within four years.
– Finland’s neutral geopolitical position and favorable regulations make it an ideal base for ReOrbit’s operations.
A Finnish startup named ReOrbit has secured a landmark €45 million in Series A funding, positioning itself as a sovereign satellite solutions provider for nations seeking alternatives to foreign-operated systems like SpaceX’s Starlink. This substantial investment underscores Europe’s growing ambition to establish independent space infrastructure amid rising geopolitical tensions and concerns over reliance on external technology providers.
Based in Helsinki and established in 2019, ReOrbit delivers both hardware and software that enable countries to operate their own satellites without depending on outside entities. CEO Sethu Saveda Suvanam emphasizes that the company caters specifically to governments that lack the capacity to develop satellites in-house but desire affordable, autonomous communication networks.
While Starlink serves both private and enterprise customers, ReOrbit focuses exclusively on granting full ownership and operational control to national clients. This involves supplying trusted hardware components integrated with the company’s proprietary software platform, which Suvanam compares to Apple’s iOS for its versatility and reliability.
The software is designed to manage both geostationary satellites, which remain fixed over a single location, and low earth orbit variants that circle the planet. This adaptability is especially valuable for countries prioritizing defense, security, and critical infrastructure resilience through space-based technology.
ReOrbit has already secured significant contracts, including one multi-hundred-million-euro agreement and several memoranda of understanding with various nations. Suvanam notes that although external funding wasn’t strictly necessary given existing contracts, the new capital will accelerate growth. The company aims to achieve unicorn status within four years, targeting order books worth €1 billion.
The funding round, orchestrated by Finnish firm Springvest, fell slightly short of its €50 million goal but still set a national record. An €8 million public share issue aimed at Finnish private investors and family offices was fully subscribed in just 4.5 hours, marking the fastest such offering in Springvest’s history. The remaining €37 million came from Nordic institutional investors, including prior backers like Varma, Elo, and Icebreaker.vc.
ReOrbit’s strategic location in Finland plays a crucial role in its appeal. Suvanam, who relocated from Sweden after 15 years in the space sector, cited Finland’s supportive regulatory framework, previously beneficial to ICEYE, another well-funded space startup, as a key factor. Current global instability, such as recent undersea cable disruptions, has further highlighted the urgency for sovereign satellite capabilities.
Many nations, caught between major powers, are actively seeking neutral and trustworthy technology partners. Finland’s non-aligned stance and Nordic identity make it an attractive base for companies operating in this sensitive sector.
Looking ahead, ReOrbit is preparing an in-orbit demonstration satellite in collaboration with the European Space Agency, with a planned launch in the second quarter of next year. This milestone reinforces the company’s commitment to advancing Europe’s presence in the new space economy.
(Source: TechCrunch)
