Belgian company Aerospacelab has closed an extended Series B funding round worth 94 millions of euros (110 millions of dollars), strengthening its position as a leading European satellite manufacturer. The round consisted of 56 millions of euros (66 millions of dollars) new investments and 38 millions of euros (44 Millions of dollars) from a European financial institution. These funds accelerate the company's development, allowing the supply of ready-made Earth observation satellites, telecommunications and other sectors.
Investments are directed to product improvement and vertical integration of key subsystems, which increases production autonomy and accelerates development. Part of the capital already supports the Megafactory project - a modern factory for the production of satellites, the construction of which began in 2024 year. The plant is designed for production up to 500 satellites annually, the first device is planned to be manufactured in 2026 year, and full power will be reached by 2027 year. The funds also finance the expansion of research, engaging engineers and improving reliability and productivity for commercial partners.
Source: https://www.spacedaily.com