SWISSto12 secures $70M for sovereign space infrastructure
▼ Summary
– Swiss space startup SWISSto12 raised over $150 million in fresh capital in one month, including €61 million from a private round and $84.8 million from ESA, while remaining profitable.
– The company reported $140 million in revenue for 2025, holds over $500 million in signed contracts, and has grown 110% annually since 2022.
– SWISSto12 uses 3D printing to manufacture lighter, faster radio-frequency components, a key competitive advantage.
– It sells HummingSat, a compact geostationary satellite, and HummingLink payloads, winning contracts with incumbents like SES and Viasat.
– The raise reflects a European push for space sovereignty, but the company faces risks from shrinking GEO orders and well-funded rivals like US-based Astranis.
Most space hardware startups raise capital because they are burning through cash. SWISSto12 just raised $70 million while actually turning a profit, a rarity in the satellite industry.
The Swiss firm closed a €61 million round just days after European Space Agency member states committed $84.8 million to its HummingSat program, according to the company. That adds up to more than $150 million in fresh funding over a single month. SWISSto12 declined to name its investors.
A profitable space startup, indeed. The numbers stand out for the sector. SWISSto12 generated $140 million in revenue in 2025, holds over $500 million in signed contracts, and has grown 110% annually since 2022. The company expects to run EBITDA-positive this year.
Founded in 2011 as a spin-out from Switzerland’s EPFL, SWISSto12 now employs roughly 224 people. Its competitive edge lies in manufacturing. The company 3D-prints the radio-frequency components of its hardware, making parts lighter and faster to produce.
The company sells two core products. HummingSat is a compact geostationary satellite, about one-tenth the size of a conventional model, that can hitch a ride to orbit alongside a larger spacecraft. HummingLink consists of payloads and antennas that attach to other operators’ satellites across various orbits.
This approach has earned SWISSto12 work with incumbents rather than against them. The company holds seven HummingSat contracts, including deals with SES and Viasat, and has more than 2,000 HummingLink units currently in orbit. Its pitch spans direct-to-device connectivity, broadcasting, and sovereign communications.
The funding round fits a broader trend. European capital is flowing heavily into space and deep tech as the bloc aims to build its own champions, from ICEYE’s €450 million round down to a string of smaller deals. Government money often leads, with private funding following close behind.
The driving force is sovereignty. Governments want communications systems that do not rely on a single orbit, a single operator, or a single foreign power. “Space is increasingly recognised as essential infrastructure for the global economy,” founder and chief executive Emile de Rijk said in the announcement.
But the strategy carries risks. GEO orders are shrinking as low-orbit constellations capture broadband and maritime work, so SWISSto12 is betting on a market in transition. It also faces sharper, better-funded competitors.
The most notable rival is Astranis, a US firm building similar small GEO satellites that has raised roughly $1.2 billion, according to TechFundingNews. Whether the “any payload, any orbit” approach beats a more focused bet may matter more than the funding round itself. For now, SWISSto12 has something most space hardware companies lack: a profit.
(Source: The Next Web)
