Aerospacelab has closed an extended Series B funding round, raising €94 million euros ($110 million) to advance its "ambitious industrial roadmap" to scale up production of off-the-shelf satellite constellations.
The funding is roughly divided between €56 million euros from private investors and €38 million euros from a European financial institution.
The cash haul should accelerate production at Aerospacelab's Belgium Megafactory, which the company says will produce up to 500 satellites per year. It will also speed research and development focused on taking control of components and processes to minimize third party contracting.
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Ground was broken on the factory in May 2024 and expects production to begin in 2026, before reaching full capacity in 2027.
"This Series B is more than just capital – it's a strong endorsement of our vision to deliver and scale our manufacturing capabilities powering the next generation of constellations," founder and CEO Benoît Deper said in the Aug. 26 release, adding it will reinforce the startup's strong industry position.
"Our products are mature and ready to deploy, our industrial infrastructure is scaling up for mass production, and we are prepared to meet rising global demand with speed and precision. We are ready for what's next."
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The company crossed the Atlantic in 2024, going online with a 35,000-square-foot satellite manufacturing facility in Torrance, California, to fulfill a Xona Space Systems contract to produce two satellites per week on a single shift schedule. Xona is developing the PULSAR high-performance network and navigation service, calling it the first satellite positioning, navigation and timing infrastructure in low Earth orbit.
Aerospacelab is selling satellite constellation systems to private, commercial and government customers. Investment firms have been allocating millions to these startups, which are building systems tied together with ground-based software, providing global services for communications, science and the military. SpaceX's Starlink is probably the best-known of these entities, but cheaper satellites and next-gen solutions are slowly coming online.
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The company offers three main satellite systems for sale, the VSP-50, VSP-150 and VSP-300. It says these Versatile Satellite Systems are fully flight-proven, designed for "mission flexibility, scalability and seamless deployment." It touts industry-leading radiation tolerance while highlighting in-house production to improve quality and lower cost.
Aerospacelab says it can design high-performance satellites to monitor the environment, evaluate and respond to disasters, study agricultural and biodiversity impacts, keep boats and sailors safe, improve water management and assist in national defense.
Key deals in recent months predict a bright future. In April, the Japan Exploration Agency chose Aerospacelab and partner Mitsui Bussan Aerospace to host its SAMRAI payload as part of a "demonstration mission" that could lead to more lucrative partnerships.
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