No Result
View All Result
  • Private Data
  • Membership options
  • Login
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHubHOT
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Home COUNTRY SCANDINAVIA&BALTICS

Can this European space startup challenge Elon Musk’s SpaceX and Starlink?

Siftedby Sifted
May 8, 2025
Reading Time: 7 mins read
in SCANDINAVIA&BALTICS, VENTURE CAPITAL
Share on FacebookShare on Twitter

On the outskirts of Stockholm, at the heart of a newish development site on the waterside by Nacka Strand, bustling with dozens of local restaurants and businesses, there is a black ten-meter rocket resting on a link bridge.

The spacecraft belongs to Swedish-American space startup Pythom Space, and has piqued the interest of passersby and the company’s employees alike (some have been knocking on the door of the startup to find out more and subsequently joined it).

But what is a spacecraft startup doing here, surrounded by other companies and their employees, and not tucked away in some desert?

Advertisement

“We don’t need that much space,” says Pythom CEO Filip Stern Cedell, looking over his shoulder as he guides Sifted around the office.

Here the company is building the rocket, engine, fuel tanks and control system. The goal is to create a small space rocket that can launch swarms of satellites without the need for a large-scale spaceport.

“We only need a concrete slab. We could do it out here, we could do it on the sea, or in the middle of the forest,” Stern Cedell says. “You could launch it anywhere, anytime. So technically, we could refuel our rocket and send it up here on the street.”

First carbon-neutral rocket?

So why doesn’t Pythom need the amount of physical space demanded by other companies in the sector?

The story begins with two Swedish-American explorers, Tina and Tom Sjögren. The pair travelled across the South Pole, the North Pole and hiked up Everest around the turn of the millennium. But, as Stern Cedell tells, they were disappointed when they found out the highest mountain known to man was actually on Mars.

The explorers wanted to climb that mountain but without having to stay on Mars for all eternity. So they needed to build a rocket capable of getting them there and back in one piece.

They invented a propulsion system that enabled rockets to be launched anytime, anywhere. By doing that, they could also replace liquid oxygen with biofuels, meaning that, in comparison to other space companies, they don’t need to rely on having huge cooling systems nearby at all times.

Picture of Filip Stern Cedell, CEO of Pythom Space in Stockholm
Filip Stern Cedell with one of the rocket engines.

“No one else does this,” Stern Cedell says, picking up one of the rocket engines that the company has 3D-printed to get the right shape for its “Black Magic” pressure system, which puts it at 150 times the atmospheric pressure.

“Space has been a solved problem since reaching orbit in the ’60s. What’s different today is that you can do it much cheaper with new methods. So you have 3D printing, you have laser fibre welding, you have CAD tools to design software, CAM to do machining, and new fuels — or actually old fuels — that you can make useful with new technology.”

An iron wall between the US and Sweden

Pythom Space — which maintains a holding company in Switzerland “to keep neutrality”, a sister company in the US, and another in Sweden — is betting on building smaller rockets to make sure that every country can affordably have its own space programme.

According to PitchBook data, the company has so far only raised a couple of million dollars from the Swedish Wallenberg family’s investment vehicle FAM, Swedish space VC Rymdkapital, former astronaut Christer Fuglesang and a group of angel investors by the name of Space Cowboys.

Advertisement

Whilst the two explorers are running the business in the US, Stern Cedell is running the team of eight in Sweden. Although the two companies use the same innovation, they are very much two different units.

“There are very strict military laws on export-regulated technology, so we have a sort of iron curtain between the organisations,” Stern Cedell says. “But there are certain things we can cooperate on, such as wrapping carbon fibre tanks and things that don’t fall under these export laws.”

The export laws Stern Cedell points to are Swedish ISP (Inspectorate of Strategic Products), which works with control and compliance of defence material and dual-use products, and ITAR in the US.

“It’s almost like an internal space race between the US and Sweden — who can do this the fastest, best and cheapest. Right now they’re a little ahead of us,” Stern Cedell says, pointing to a screen showing a live feed from the US office of a half-built rocket.

Space-based defence

According to Stern Cedell, Pythom has already attracted interest from the Swedish military as well as DARPA, the research and development agency of the United States Department of Defense.

“If there’s a war, the first thing that’s going to happen is they’re going to bomb a spaceport. Then they can’t fly. Then you have no space access, no satellites,” he says.

He adds that the first thing Russia did in Ukraine was to cut off ground communication: “It’s only thanks to Starlink and the satellite that you can have internet and communication at all.”

“And then you can see with the help of images what’s happening in the war — which areas are occupied, who is preparing to attack with their patrols in different places. So if you don’t have space capability today, you are both blind and deaf on the battlefield.”

“We want to make it possible to buy your own rocket for $1m. And a satellite swarm with eight satellites for the same amount. That will give you a complete space programme for about $2m,” Stern Cedell says.

Whilst SpaceX was cheap compared to the incumbents when it started, in comparison to Pythom’s $1m and Rocket Lab’s $7m, its price tag of $60m sounds like a lot.

“We usually compare SpaceX to a space bus. You pay for a ticket on a rocket with everyone else. But the bus doesn’t really go where you want to go. You just have to tag along. In comparison, we are saying that we are building a space Uber,” he says.

Drug discovery in space

Similar to SpaceX, Pythom will focus on the commercial market — and the satellites are key to getting the economics to work, according to Stern Cedell, who points out that two-thirds of Rocket Lab’s revenue comes from subsystems.

But it’s the future markets that excite Stern Cedell most.

“Space is a completely new domain where atoms behave completely differently. So you can do space pharma — where you develop new medicines in zero gravity, where crystals actually grow in stronger formations. So you can have medicines with completely new properties.”

He also mentions that you can already manufacture crystals for semiconductors in space that are 50 times more efficient than they are on Earth.

“In the future you can also do space mining of asteroids. Space-based solar cells that are about 40 times more efficient than they are on Earth,” he says. “That is the most exciting — we don’t know what will happen when we push the costs to enter space.”

Read the orginal article: https://sifted.eu/articles/can-this-european-space-startup-challenge-elon-musks-spacex-and-starlink/

Gateways to Italy

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

Gateways to Italy – Offer your services to funds and investors willing to explore opportunities in Italy. Become a partner!

by Partner
June 6, 2023

Sign up to our newsletter

SIGN UP

Related Posts

DACH

German FinTech startup Circula secures €15 million as it cuts expense admin by 80%

May 8, 2025
FRANCE

EU unlocks €500m to become a “magnet for researchers”

May 8, 2025
UK&IRELAND

British startup Doubleword raises €10.6 million to make self-hosted AI inference effortless for enterprises

May 8, 2025

ItaHub

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Italy’s SMEs export toward 260 bn euros in 2025

Italy’s SMEs export toward 260 bn euros in 2025

September 9, 2024
With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

With two months to go before the NPL Directive, in Italy the securitization rebus is still to be unraveled

April 23, 2024
EU’s AI Act, like previous rules on technology,  looks more defensive than investment-oriented

EU’s AI Act, like previous rules on technology, looks more defensive than investment-oriented

January 9, 2024

Co-sponsor

Premium

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

Funds vying for management consulting firm BIP, a CVC portfolio company. All deals in the sector

March 6, 2025
Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

Private equity, Italy 2024 closes with 588 deals as for investments and divestments from 549 in 2023. Here is the new BeBeez’s report

February 10, 2025
Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

Crypto-assets supervision rules in Italy, Banca d’Italia will supervise payment systems and Consob on market abuse

November 4, 2024
Venture capital investments top €1.3bn in 208 rounds as of Sep30  in Italy. They were €1.5 in all 2023. The new BeBeez Report

Venture capital investments top €1.3bn in 208 rounds as of Sep30 in Italy. They were €1.5 in all 2023. The new BeBeez Report

October 28, 2024
Next Post

Landlord instructions fall as ‘unintended consequences’ of Renters’ Rights Bill hit home

Foxtons AGM sees key resolutions passed amid shareholder concerns

EdiBeez srl

C.so Italia 22 - 20122 - Milano
C.F. | P.IVA 09375120962
Aut. Trib. Milano n. 102
del 3 aprile 2013

COUNTRY

Italy
Iberia
France
UK&Ireland
Benelux
DACH
Scandinavia&Baltics

CATEGORY

Private Equity
Venture Capital
Private Debt
Distressed Assets
Real Estate
Fintech
Green

PREMIUM

ItaHUB
Legal
Tax
Trend
Report
Insight view

WHO WE ARE

About Us
Media Partnerships
Contact

INFORMATION

Privacy Policy
Terms&Conditions
Cookie Police

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • COUNTRY
    • ITALY
    • IBERIA
    • FRANCE
    • UK&IRELAND
    • BENELUX
    • DACH
    • SCANDINAVIA&BALTICS
  • PRIVATE EQUITY
  • VENTURE CAPITAL
  • PRIVATE DEBT
  • DISTRESSED ASSETS
  • REAL ESTATE
  • FINTECH
  • GREEN
  • PREMIUM
    • ItaHub
      • ItaHub Legal
      • ItaHub Tax
      • ItaHub Trend
    • REPORT
    • INSIGHT VIEW
    • Private Data
Subscribe
  • Login
  • Cart