The funding also saw participation from CEECAT Capital, Morphosis Capital, and other returning investors.

Raycho Raychev, CEO of EnduroSat, said: “We are moving towards a new era of space utilization by making space a daily utility for various industries.”

EnduroSat will use the money to ramp up production of the Endurance ESPA-class satellites, which range from 200-500kg. These software-defined satellites are engineered with advanced avionics and a fully modular design, making them ideal for rapid deployment in various applications, including hyperspectral imaging, synthetic aperture radar (SAR), and broadband. 

The funding will additionally bolster the expansion of EnduroSat's fixed-cost constellations-as-a-service model across its existing European and U.S. operations.

A key part of the investment will facilitate the construction of a new 17,500 sqm facility in Sofia, set to become one of Europe's largest space R&D centers. 

EnduroSat aims to produce up to 60 satellites per month at this new location by the end of 2025.