Bulgarian-founded EnduroSat, a provider of software-defined satellites and space data solutions, announced the successful closing of a $104 (€90) million funding round to significantly expand its production capabilities and accelerate delivery timelines for advanced satellite constellations.
The investment will enable EnduroSat to produce up to two ESPA-class satellites per day, dramatically reducing time-to-orbit for commercial and governmental constellation operators worldwide.
The round welcomes new investors Riot Ventures, Google Ventures (GV), Lux Capital, the European Innovation Council Fund, and Shrug Capital, all joining EnduroSat’s mission to streamline access to space data and empower organizations through scalable, modular satellite infrastructure.
New space center in Sofia expands global capability
Coinciding with the funding announcement, EnduroSat officially opened its state-of-the-art Space Center in Sofia, Bulgaria, a 188,340-square-foot facility designed to meet surging global demand for small to mid-sized satellite constellations.
The new Space Center provides the capability to manufacture up to two 200–500 kg satellites per day and features advanced RF laboratories, hardware and mechanical labs, ISO-classified clean rooms, and comprehensive space qualification facilities. This expansion ensures unprecedented speed, reliability, and cost-efficiency in satellite manufacturing.
Stephen Marcus, Co-Founder and General Partner, Riot Ventures, shared:
“EnduroSat is redefining how space infrastructure is built and deployed. Their production capabilities are aligned with the evolving demands of a new generation of satellite operators. We believe EnduroSat is uniquely positioned to empower businesses and governments to leverage the advantages of their own dedicated space assets, and we’re excited to support this vision.”
A milestone in accessible space infrastructure
With its expanded capacity, EnduroSat aims to meet the rapidly growing demand for efficient, scalable, and cost-effective satellite manufacturing, reinforcing its leadership in the next generation of space infrastructure.
“This latest investment, combined with the launch of our new Space Center, marks a pivotal moment for EnduroSat,” said Raycho Raychev, CEO and Founder of EnduroSat. “It not only validates our strong market traction but also accelerates our ability to deliver highly capable, cost-effective satellite constellations at scale — bringing us closer to a future where space data becomes universally accessible and instantly available.”
Investments so far
In May this year, EnduroSat secured a €43 million investment led by Founders Fund, with participation from CEECAT Capital, Morphosis Capital, and other existing investors. The funding was aimed to scale-up production for the company’s Gen3 ESPA-class satellites (200–500 kg).
Previously, in February 2023, the company secured another substantial investment — a €20 million funding round led by the Luxembourg-based private equity firm CEECAT Capital, with participation from other existing investors. That investment aimed to expand the company’s capacity by increasing the size of its satellites, enabling EnduroSat to enter a new market segment.
