Image by Nxgsat

Nxgsat, a Belgian space modem company, has closed a 1.2 million euros ($1.4 million) funding round. The company’s flagship product is a high-speed, 5G satellite modem designed to enable seamless interoperability across terrestrial and multi-orbit satellite networks. The newly raised funds will be used to accelerate product development, expand technical and commercial teams, and advance market deployment of nxgsat’s technology. The company announced the funding round, Oct. 21.

The funding round was led by PMV and imec.istart future fund. The company has already secured commercial and governmental contracts within the space sector. With its 5G satellite modem technology, nxgsat wants to be a key contributor to European initiatives such as IRIS², the EU’s sovereign LEO/MEO satellite constellation aimed at secure, independent connectivity.

“This funding marks a pivotal step in our journey. With the backing of PMV and imec.istart future fund, we are now able to engage in larger-scale programs and strengthen both our technical and commercial teams. This will further reinforce our ambition to make high performance interoperable satellite connectivity a reality for tomorrow’s users,” Alain Rolle, Founder and CEO/CTO, nxgsat, said in a statement.