Satellite Software Company ReOrbit Raises $7.4M in Oversubscribed Seed Funding Round
Satellite flight software provider ReOrbit raised $7.4 million in an oversubscribed seed funding round, the Helsinki-based company announced Wednesday. Inventure VC led the round, along with participation from 10xFounders, Icebreaker.vc, Expansion, and YesVC.
The company offers an onboard flight computer system, and software-defined satellite platforms for both Low-Earth Orbit (LEO) and Geostationary Orbit (GEO). Earlier this month, ReOrbit joined the European Space Agency’s (ESA) high throughput optical network (HydRON) program as a space segment partner.
ReOrbit said it is already profitable and has customers in government, institutional sectors and commercial satellite operators.
CEO and founder Sethu Saveda Suvanam commented on the funding round: “Our outstanding team is dedicated to delivering cutting-edge solutions that meet the highest global quality, security and operability standards. We can now accelerate our development strategy focusing on international expansion and products that make a difference. We have a very strong pipeline, and this funding will enable us to deliver multiple space systems.”