Icebreaker.vc participates in ReOrbit's €45M Series A round
ReOrbit has raised €45 million in a Series A round, marking the largest all-equity Series A in Finland and a standout deal in Europe's space and defence sector. The round was led by Springvest, with backing from Icebreaker.vc, Elo, Varma, Expansion, 10x Founders, and Inventure VC. The company plans to use the new capital to scale its manufacturing capacity, advance its proprietary technologies, and expand internationally, including the opening of local satellite centres across multiple regions within the next year.
Founded in 2019 and based in Helsinki, ReOrbit provides both the hardware and software needed for independent satellite operations. According to its CEO, Sethu Saveda Suvanam, the company offers a solution to nations that can't build their own satellites but want an affordable alternative to Elon Musk-owned Starlink.
The funding round signals that Europe's new space market is heating up, fueled by a geopolitical environment in which countries increasingly worry about relying on foreign technology for critical infrastructure.
"Closing a €45 million Series A is a milestone not only for ReOrbit, but for Europe's space and defence sector," said Sethu Saveda Suvanam, CEO and Founder of ReOrbit. "This investment enables us to meet growing demand, ensuring that nations can operate critical space systems independently and with full control. In today's geopolitical environment, reliance on external parties is a risk no country can accept. ReOrbit ensures they never have to."
"ReOrbit is building capabilities that are central to any country's strategic autonomy. This investment demonstrates our confidence in their ability to deliver sovereign space systems that are essential for national security and resilience," said Riku Seppälä, Icebreaker.vc. "We are honoured to be able to continue supporting ReOrbit in continuing to build a company that could become one of the most important companies ever built in Europe."
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