A Spanish startup, Kreios Space, has achieved a significant milestone by securing 8 million euros (approximately $9.3 million) in funding from the NATO Innovation Fund and JOIN Capital to propel its Very Low Earth Orbit (VLEO) satellite technology forward. This investment marks a pivotal step in advancing a system that promises ultra-high-resolution imaging and enhanced direct-to-device communications.
Kreios’ innovative technology is positioned to play a crucial role in various advanced applications, including surveillance and tactical communications. The adaptability of their satellites allows for deployment from orbits that are closer to Earth than those typically used by conventional satellites.
The funding will facilitate the development of two test satellites, one of which will be the inaugural in-orbit demonstration of Kreios’ Air-Breathing Electric Propulsion system. This groundbreaking system promises to enable satellite operations at altitudes below 400 kilometers (248 miles), a frontier previously thought to be unmanageable.
CEO and co-founder of Kreios Space, Adrián Senar, emphasized the transformative potential of their work, stating, “We’re not just building satellites; we’re opening up an orbit that was written off as impossible.” He noted that VLEO offers Europe enhanced observational capabilities, quicker connectivity, and the potential for increasing independence in space activities. The current funding, he stated, will provide the necessary resources to validate the technology in orbit, ideally positioning Europe as a leader in this domain rather than a follower.
This funding announcement builds on an earlier investment of 2.3 million euros (around $2.6 million) achieved in 2024, aimed at enhancing Kreios’ technological development.
Kreios Space operates out of Vigo in northern Spain and benefits from the advisory support of prominent industry experts, including those from Thales, JAXA, and ESA.
The NATO Innovation Fund is a substantial 1-billion-euro ($1.1 billion) venture capital initiative bolstered by contributions from 24 NATO allies. It focuses on investing in European deep tech projects aimed at addressing challenges related to defense, security, and resilience. By supporting these initiatives, the fund facilitates access for portfolio companies to both commercial and government markets while fostering the growth of innovative technologies.
JOIN Capital, noted for its early-stage investment approach, is a pan-European venture capital fund with presence across major cities including Berlin, London, and Milan. Since its inception in 2017, JOIN Capital has championed founders in creating deep tech solutions across various sectors, including enterprise, industrial applications, space, and defense. The fund is currently managing over 150 million euros ($176 million), further underscoring its commitment to nurturing pioneering technological advancements.
