EnduroSat is in talks to raise approximately €188M ($200M) in a Series C funding round. The Bulgarian startup is seeking fresh capital just months after securing a €98M ($104M) round in October. The capital injection targets a significant expansion of its satellite operations as the company scales its presence across Europe and the US.
Founded in 2015 by Raycho Raychev, EnduroSat designs and manufactures nano-satellites and space services. It operates a "Software-Defined Satellite" model, which allows multiple payloads to share a single satellite bus, significantly lowering the cost and complexity of accessing space for commercial and research missions. Customers currently include organisations such as IBM, UC Berkeley, and the European Space Agency.
The company maintains a global footprint with offices in Sofia, Berlin, Luxembourg, Italy, and France. Its growth reflects a spike in demand for standardisation within the space industry, moving away from bespoke, high-cost builds toward modular, rapidly deployable hardware. High-profile investors from previous rounds include Google Ventures and Lux Capital.
The scale of this anticipated round highlights the rapid maturation of the Balkan ecosystem and the increasing capability of European spacetech firms to command capital on par with their US counterparts.
Originally reported by Sifted.