ReOrbit, a Finnish space startup focused on enabling nations to operate their own sovereign satellites, has raised a record €45 million (about $53 million) Series A round, marking the largest such funding in Europe’s space tech sector.
Founded in 2019 and based in Helsinki, ReOrbit provides both hardware and software for independent satellite operations. CEO Sethu Saveda Suvanam said the company’s platform offers countries an affordable alternative to foreign-owned systems like Elon Musk’s Starlink, while giving clients full control and ownership of their satellites and communications.
ReOrbit’s software core, described by Suvanam as an “iOS for space,” can run both its geostationary orbit satellite SiltaSat and its low-earth orbit UkkoSat, offering flexibility for defense, security, and critical infrastructure needs.
The approach has already won the company a contract worth hundreds of millions with one nation, alongside multiple MOUs with others. Suvanam said the startup is targeting €1 billion in order books within four years.
The Series A was organized by Finnish investment firm Springvest. A public share issue of €8 million, opened to Finnish private investors and family offices, filled in just 4.5 hours, the fastest ever for Springvest. The remaining €37 million came from Nordic institutional backers, including Varma, Elo, Icebreaker.vc, Expansion VC, 10x Founders, and Inventure.
While the company originally sought €50 million, the raise still sets a Finnish record. Suvanam said ReOrbit didn’t need external capital thanks to existing contracts but accepted the funding to accelerate growth.
Related: Whistleblower Says Trump Officials Put Social Security Data at Risk
ReOrbit’s location in Finland reflects both its founder’s 15 years in the Swedish space industry and the country’s favorable regulatory environment, which has also benefited fellow space startup ICEYE. Rising geopolitical tensions, including recent cuts to undersea cables in the Red Sea, have further heightened demand for secure, sovereign satellite systems.
Looking ahead, ReOrbit will build a satellite for an in-orbit demonstration with the European Space Agency, scheduled for launch in the second quarter of next year.
