The Spanish aerospace company Fossa Systems has closed a new funding round worth 9.25 million euros in order to accelerate its international growth and boost the global deployment of its sovereign satellite capabilities, as it announced this Tuesday.
The operation has been led by Kibo Ventures and has involved the Spanish Society for Technological Transformation (SETT) - an agency dependent on the Ministry for Digital Transformation and Public Function -, Space Frontiers Fund II, Indico Capital, and WISeSAT.
According to the company, this capital injection "reinforces confidence in Fossa's growth and the consolidation of its business model in a context of accelerated transformation of the international space sector".
Strengthening the team and commercial expansion
The resources obtained will be used to strengthen the workforce, continue the commercial expansion initiated in 2024, advance in new capabilities related to security and defense, and proceed with the deployment of its constellation of 140 satellites in low Earth orbit. The firm, which already has more than 50 professionals between Spain and Portugal and has launched more than 25 satellites into orbit since its creation, is in a stage of "operational and technological expansion".
The next launch, scheduled for the coming weeks, will incorporate the 26th satellite into its constellation. Established in 2020, Fossa has positioned itself as "one of the most active companies in the European space and defense ecosystem".
The company designs and operates its own infrastructure for satellite IoT connectivity, secure communications, and space intelligence solutions (Sigint), with applications in sectors such as energy, logistics, agriculture, critical infrastructure, and national security.
Own IoT network and custom constellations
Likewise, it has developed the capability to design and manufacture satellite constellations with masses ranging from ten kilograms (kg) to over 150 kg, in addition to the deployment of its own IoT network designed to provide global connectivity and strategic capabilities in areas without terrestrial coverage.
The CEO and co-founder, Julián Fernández, has highlighted that thanks to Fossa, "small nations, defense ministries, and global corporations can define and execute their own space strategy in a few months, while the vertical integration of the entire technological chain has allowed them to reduce costs by an order of magnitude."
"In a few years, we have gone from being a 'startup' to a company with an international presence, 25 satellites launched, and technology that responds to the real needs of industrial, institutional, and governmental clients," he stated, emphasizing that the goal is to consolidate the company "as a European benchmark in sovereign space infrastructure."
For his part, Kibo Ventures partner Juan López Santamaría has remarked that "Europe needs technological champions capable of reducing dependencies in strategic sectors." "Fossa has demonstrated that it can develop and operate sovereign space infrastructure with exceptional speed and efficiency," he pointed out.
Within the framework of the round, Kibo Ventures will become part of the board of directors. In parallel, Fossa has indicated that it has strengthened its position in defense and security, among other aspects, through its participation in NATO's DIANA program, where it has been selected for its electromagnetic intelligence capabilities from low Earth orbit and its dual-use technologies.
The company also continues with its internationalization plan with the opening of a third office in Tokyo (Japan), which joins those in Madrid and Lisbon (Portugal), and with the signing of a strategic agreement with Kanematsu Corporation to promote the implementation of its solutions in the Japanese defense market.