French satellite-maker, U-Space, announced on Nov. 12 that it secured €24 million ($27.8 million) in Series A funding, marking a significant step in its plan to transform European space manufacturing.
Lead investors include Blast, the French Ministry of Armed Forces’ Definvest fund and Expansion. Additional participants included Primo Capital via its Primo Space investment fund, Karot Capital, ARIS, and Vertech Finance.
The financing represents substantial growth from the U-Space's initial €7 million raise in 2022, according to the small-satellite maker. The manufacturer plans to use the capital to increase production capacity and expand commercial operations beyond Europe into the Asia-Pacific and Middle Eastern markets.
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CNES And Safran Contracts Help U-Space Secure French Military And Italian Investor Backing
U-Space currently operates three satellites in orbit with approximately 10 additional units scheduled for production and delivery over the coming year, according to the company. The firm has signed contracts with major French organizations, including Centre National d'Études Spatiales and Safran, establishing credentials in a sector where performance history determines future opportunities.
“Through its excellence and the quality of its teams, U-Space actively contributes to France's sovereign ambitions in the space sector,” Bpifrance Investment Director François Charbonnier said in U-Space's statement. “With its initial successes paving the way for many more to come, it was only natural for Definvest to renew its support.”
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U-Space Plans 1 Satellite Per Week By 2027 Using Automotive Assembly Line Methods
U-Space said it has adopted manufacturing techniques from the automotive sector to accelerate satellite production. The company operates the U-Zine, an 850-square-meter cleanroom facility designed to eventually produce one satellite daily.
The immediate target calls for reaching one satellite per week by 2027, with software development funded by the new capital supporting this production increase. The approach addresses capacity constraints in an industry where demand for satellite constellations exceeds current manufacturing capabilities, U-Space said.
“Over the past few years, U-Space has demonstrated its ability to build a strong team and implement robust industrial processes,” Blast Investment Manager Alexis Bès de Berc said in U-Space's statement. “This new phase marks a strategic turning point."
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U-Space Targets Middle East And Asia-Pacific After Landing UAE National Space Center Contract
U-Space plans to strengthen its commercial team to pursue opportunities in regions demonstrating strong space industry development. The strategy follows recent business success with the United Arab Emirates’ National Space Science and Technology Center, the company said.
“These regions demonstrate remarkable technological dynamism and a strong will to develop their space economies,” U-Space co-founder and President Fabien Apper said in the company's statement. “They are strategic markets where we can contribute, both on governmental and commercial programs. This is an opportunity to demonstrate our ability to support global space ambitions, and this funding will allow us to do so.”
The company provides comprehensive services spanning satellite design through operational management via its operations center located in Toulouse, France. U-Space said it offers modular platforms, including the 12U and FreeForm designs, supported by proprietary software.
The funding enables U-Space to pursue its goal of becoming Europe’s premier manufacturer in the global small satellite constellation market. The company serves both governmental and commercial customers seeking reliable spacecraft with shorter delivery schedules.
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