EnduroSat-raises-10m-USD-Series-A-led-by-CEECAT-Capital
EnduroSat, headquartered in
Luxembourg and with main R&D operations in Bulgaria,
has raised a 10m USD Series A, led by the EU
investment firm CEECAT Capital, focused on the high
growth markets of CEE Europe. Existing investors
like the German Seed fund Freigeist Capital also
joined the round.
EnduroSat is on a mission to
transform the complex satellite industry into a
streamlined data service, enabling instant access
and transactions with space data on the cloud from
hundreds of sensors in orbit.
With unique satellite
technology and own Satellite as a Service, we enable
easy access to Space Data without the usual legal,
technical or logistical challenges.
Our team has successfully
supported more than 210 customers, multiple
missions, and delivered over 2500 satellite modules
flying in orbit onboard customers’ satellites, since
our market debut in 2018. Within the next 3 years,
the plan is to support tens of new space customers
to orbit, with the next 5 missions already fully
committed.
The investment will enable us
to scale our operations and address a wider
satellite market, including constellation as a
service, as well as further improve our satellite
tech.
With our new offices located in
Luxembourg, Berlin, Toulouse, Naples and Delaware,
we plan to further scale our team beyond the current
130 top-tier professionals.
We have opened a new Space
Center in Sofia with 3,200m2 of office space and
700m2 of cutting-edge labs for Space testing,
assembly and qualification.
Q1 2023 marks a record quarter
for EnduroSat. With 6 consecutive years of growth
exceeding 200% YtoY, we are significantly growing
our customer base in the US and EU and rapidly
moving closer to our goal of ensuring affordable
access to space data.
We are excited to be partnering
with Raycho and EnduroSat on their journey to be a
global leader in this new chapter of the growth of
the space industry. EnduroSat is emerging as a
leading player in the fast-growing small satellite
market, building on the untapped talent pool of
highly skilled and educated scientists and engineers
in Bulgaria. What Raycho has achieved to date is
truly world-class and we share his vision and
excitement about the future of space, its benefits
to humanity, and EnduroSat’s potential to drive this
change and emerge as a leader in the industry. We
plan to work with Raycho to accelerate the company’s
global growth and help him achieve the vision he had
when he started this journey 10 years ago.
ANTHONY STALKER, CEECAT CAPITAL, PARTNER
I am truly excited to welcome
the CEECAT Capital team onboard. They have
demonstrated a true work ethic, understanding, and
enthusiasm for what we are trying to build and an
amazing experience to help us get to the next level.
Working together, we will continue to pursue our
vision – Space can be universally accessible.
Scaling has never been easy and having the right
partners marks the biggest difference. I cannot wait
to see the next steps of our development
RAYCHO RAYCHEV, ENDUROSAT FOUNDER & CEO
|