ReOrbit, a leading provider of software-enabled satellites, has completed an oversubscribed seed funding round for €6.8 million led by Inventure VC, along with participation from 10x Founders, existing investor Icebreaker.vc, Expansion, and Yes VC. ReOrbit enables real-time dataflow in space and provides Earth Observation and SatCom operators with flight software, satellite platforms, and complete systems.
Thanks to its highly flexible software-first architecture, ReOrbit can adapt its satellites to different missions and support any payloads with powerful flight capabilities whilst keeping cost and time-to-orbit low. ReOrbit has been profitable since it was founded, gaining strong traction with customers ranging from governmental and institutional sectors to commercial satellite operators.
“This is a very important milestone for ReOrbit, and we are thrilled to have secured this significant support from our new and existing investors,” said Sethu Saveda Suvanam, CEO and Founder of ReOrbit. “Our outstanding team is dedicated to delivering cutting-edge solutions that meet the highest global quality, security and operability standards. We can now accelerate our development strategy focusing on international expansion and products that make a difference. We have a very strong pipeline, and this funding will enable us to deliver multiple space systems”.
Founded in 2019, ReOrbit is headquartered in Helsinki with additional offices in Sweden and Argentina. The company provides autonomous and interconnected satellites that are optimized for efficient and reliable delivery of customers’ space-related data. According to its founders, they are creating the most compelling in-space data flow company by augmenting the world’s information use via space. ReOrbit works with the most prominent entities within security, satcom and Earth observation. Its technology is supported by Business Finland, the European Space Agency and the European Commission.
“ReOrbit represents the next frontier of the new space economy. We are happy to support the rapid growth of the company and its continuous impressive work on advancing breakthrough technologies in space,” commented Tuomas Kosonen, Partner at Inventure VC.
ReOrbit’s Board of Directors is led by the Chairman of the Board Nishant Batra, Chief Strategy and Technology Officer of Nokia, and includes esteemed members Tuomas Kosonen, Partner at Inventure VC, Markus Räikkönen, Investor at YES VC, Sethu Saveda Suvanam, CEO and Founder of ReOrbit, and John Auburn, Chief Strategy Officer of ReOrbit.
Read the orginal article: https://www.eu-startups.com/2023/09/helsinki-based-reorbit-snaps-e6-8-million-to-read-real-time-dataflow-from-the-stars/
