Photo of an EnduroSat Gen3 satellite. Photo: EnduroSat

Satellite manufacturer EnduroSat has raised 43 million euros in investment led by Founders Fund, to scale production of its Gen3 satellite platform in the 200-500 kg class. EnduroSat is based in Bulgaria, and within the last year has expanded to Colorado, France, and Germany.

The latest funding will also support the buildout of a new 17,500 square meter facility in Sofia, Bulgaria, which the company said will be one of the largest space R&D centers in Europe with satellite avionics labs, two assembly lines, and significantly expanded clean rooms. The investment will also help it scale at its existing European and U.S. locations.

EnduroSat to date has offered cubesat platforms and components. It has delivered more than 60 satellites and its customers include IBM, Vyoma, Neuraspace, and others. The company  said its Gen3 satellite design is built for constellations and responsive space applications with applications including hyperspectral imaging, synthetic aperture radar (SAR), broadband, navigation, and others. The company claims the satellite bus design can be assembled and “functionally tested in a few hours.” 

“Our mission is to make space universally accessible, because this fundamentally improves life on earth,” said Raycho Raychev, Founder and CEO of EnduroSat. “I’m excited to work alongside and learn from the team at Founders Fund, which brings decades of expertise in scaling companies and redefining industries.” 

Other investors include CEECAT Capital, Morphosis Capital, and other returning investors. Lead investor Founders Fund was co-founded by Peter Thiel and was an early investor in SpaceX. Its other space portfolio companies include Varda Space Industries and Impulse Space. 

Delian Asparouhov, partner at Founders Fund and co-founder and president of Varda Space Industries said in a release that EnduroSat uses consumer electronics and automotive supply chains to “rethink how satellites are built.” 

“This makes EnduroSat’s cost efficiency and performance above all in the market, and they have a proven flight heritage. Their Gen3 satellites get them into a size class that will allow for almost any space opportunity to be relevant for them,” Asparouhov said. 

Correction: A previous version of this story misstated that the above photo is a rendering of the Gen3 satellite. It is a photo of the satellite.