Open Cosmos

Satellite Manufacturing · Space Infrastructure · Earth Observation

Funding

Open Cosmos raises €300M Series C to scale European satellite output

Five straight years of profit make this one of Europe's rare hardware startups scaling on revenue instead of promises.

• Open Cosmos closed a €300M ($348.6M) Series C, with Claret Capital Partners providing a venture debt tranche alongside the equity investors.
• The UK-based satellite manufacturer, founded in 2015 and headquartered at Harwell, designs, builds and operates full satellite missions plus Earth-observation and connectivity constellations for governments and enterprises.
• The company runs four factories across the UK, Spain, Portugal and Greece with capacity to build one satellite a day, and has signed more than $370M in customer contracts over three and a half years.
• The new round is roughly six times the $50M Open Cosmos raised in its previous round, reflecting investors' growing appetite for scale-stage European space infrastructure.
• The raise lands amid a wave of European space funding: The Exploration Company closed a $450M Series C days earlier, and Finnish satellite maker Iceye raised €1B at a €10B valuation.
• Open Cosmos's five consecutive years of profitability set it apart in a sector where most rivals still burn cash to reach orbit, testing whether Europe can build self-sustaining space companies rather than subsidized ones.