Progress on the Aerospacelab Megafactory in Belgium. Photo: Aerospacelab

European satellite manufacturer Aerospacelab has raised 94 million euros ($110 million) in a Series B round announced Tuesday to ramp up its satellite manufacturing capabilities. 

The round includes a dual-tranche funding round of 56 million euros ($66 million), and a 38 million euro ($44 million) commitment from an unnamed European financial institution.

Aerospacelab said the Megafactory it is building in Belgium has already benefitted from the funding. The satellite factory in Charleroi, Belgium, is expected to start production in 2026 with full production capacity by 2027. Aerospacelab intends for the Megafactory to become Europe’s largest satellite factory targeting production capabilities reaching 500 satellites a year.

Aerospacelab CEO Benoît Deper says with this funding, the company is set to scale manufacturing for the next generation of constellations. “It reinforces our position at a pivotal moment: our products are mature and ready to deploy, our industrial infrastructure is scaling up for mass production, and we are prepared to meet rising global demand with speed and precision,” Deper said. 

Aerospacelab offers satellite platforms, subsystems, and payloads and is focusing on vertical integration of all key subsystems. The company is a subsystem supplier for MDA Space’s Aurora satellite product line.