Open Cosmos raises €300 million to expand satellite manufacturing

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Open Cosmos, the satellite maker Rafel Jordà founded in Barcelona in 2015 and now headquartered in Oxford, has raised €300 million, announced on Monday 14 September. A group of European investors led the round, among them Lightrock, ETF Partners, the Institut Català de Finances (ICF), Entrepreneurs First and two unnamed international pension funds. A&G Global Investors, which led the company's 2023 round, came back through its Energy Transition Tech Fund. Santander Alternative Investments, Sankara, Trill Impact, Convex Group, the UK's National Security Strategic Investment Fund, Phoenix Court (home of LocalGlobe and Latitude) and Claret Capital Partners also took part. The Catalan government put in €31 million through the ICF. The total is roughly six times the previous round, which raised $50 million.

The money goes to building satellites in series and rolling out the company's intelligence and connectivity services. Open Cosmos runs four plants, in Barcelona, the UK, Portugal and Greece, which together can turn out up to one satellite a day, and it employs close to 400 people in Europe. It reports about €320 million of new contracts over the last three and a half years and five straight years of profitable growth, a phrase not often heard from a company that launches things into orbit. Its newest OpenConstellation satellites process data with AI on board and talk to each other, which has cut the wait for Earth-observation data from 48 hours to around 30 minutes. In Spain it leads the Spanish Atlantic Constellation and built Menut, the Generalitat's first nanosatellite.

The round is the largest for a Spanish start-up so far in 2026, just ahead of the €288 million PLD Space raised in two tranches, so the year's two biggest deals both went to companies whose products leave the planet. Jordà framed it as a question of sovereignty: "Europe needs to strengthen its technological and space sovereignty, and Spain must play a leading role in that challenge."