ReOrbit raises €45M to power sovereign satellites

ReOrbit, a Finnish space technology startup focused on enabling nations to control their own satellites, has raised a record-setting €45 million (about $53 million) in a Series A funding round — the largest of its kind for a European space tech company. The round underscores how Europe’s space market is heating up, driven by rising geopolitical tensions and countries’ growing concerns about reliance on foreign infrastructure.

Founded in 2019 and headquartered in Helsinki, ReOrbit provides both the hardware and software necessary for independent satellite operations. CEO Sethu Saveda Suvanam says the company offers a viable alternative for governments that want to establish sovereign space capabilities but lack the resources to build their own fleets from scratch.

“Unlike Starlink, which also targets private users and enterprises, we want our clients to have complete ownership and sovereignty over their satellites and communications,” Saveda Suvanam told TechCrunch.

An "iOS for satellites"

ReOrbit’s technology revolves around a flexible software core that Suvanam compares to Apple’s iOS. This platform can operate across different satellite orbits, from the company’s SiltaSat in geostationary orbit — which remains fixed over one location on Earth — to UkkoSat in low Earth orbit, which circles closer to the planet’s surface.

Such adaptability is especially valuable to nations increasingly aware of how space-based infrastructure underpins defense, security, and critical communications. ReOrbit has already secured “a full contract worth some hundreds of millions” with one government, along with several memorandums of understanding (MOUs) with others.

Despite these lucrative deals, the startup chose to raise external funding to accelerate growth. The goal, according to Suvanam, is ambitious: turning ReOrbit into a “sales unicorn” within four years by building a €1 billion order book.

Record-breaking round

The Series A, organized by Finnish investment firm Springvest, was initially targeted at €50 million. While ReOrbit fell slightly short of that goal, the final €45 million still marked a national record.

Part of the raise came from a €8 million public share issue, which was fully subscribed in just 4.5 hours — the fastest such campaign ever run by Springvest. The remaining €37 million was backed by institutional investors with a strong Nordic presence, including Varma, Elo, Icebreaker.vc, Expansion VC, 10x Founders, and Inventure.

A Nordic advantage

ReOrbit joins a growing cluster of space startups in Finland, following in the footsteps of ICEYE, a radar imaging pioneer that benefited from favorable local regulations. Suvanam, originally from India and with 15 years of experience in Sweden’s space sector, chose Finland as ReOrbit’s home base for both personal and strategic reasons.

“Finland is not a country that wants to be a superpower, and this is very important,” he explained. “Many nations today are caught between China and the U.S. When we speak to authorities, they say, ‘We are looking at Europe and the Nordics very keenly, because we want neutral partners.’ This is why it’s so exciting to come from the Nordics in this space — no pun intended.”

Global events have only reinforced the urgency of resilient satellite infrastructure. For example, recent attacks on undersea cables in the Red Sea highlighted the vulnerability of traditional communications networks and the importance of space-based alternatives.

Next steps: European Space Agency demo

ReOrbit’s immediate roadmap includes an in-orbit demonstration with the European Space Agency (ESA), slated for launch in the second quarter of next year. This milestone is expected to validate the company’s modular satellite architecture and further cement its position in Europe’s rapidly evolving “new space” ecosystem.

As rivals like Astranis scale up in the U.S., ReOrbit’s focus on sovereignty, neutrality, and flexibility may give it a unique edge in the global market. And with fresh funding in hand, the Finnish startup is poised to prove that Europe’s space ambitions are ready to compete on the world stage.