Aerospacelab Secures Galactic-Sized Funding: $110M Boosts Bid For Europe's New Satellite Constellation

Core Insights - Aerospacelab has successfully closed an extended Series B funding round, raising €94 million ($110 million) to enhance its production capabilities for satellite constellations [1] - The funding will primarily support the Belgium Megafactory, which aims to produce up to 500 satellites annually and will also facilitate in-house research and development [2][3] Funding Details - The funding is composed of €56 million from private investors and €38 million from a European financial institution [1] - This financial backing is seen as a strong endorsement of Aerospacelab's vision and manufacturing capabilities [3] Production Plans - Groundbreaking for the Belgium Megafactory occurred in May 2024, with production expected to start in 2026 and reach full capacity by 2027 [3] - The company has also established a 35,000-square-foot facility in Torrance, California, to produce two satellites weekly for Xona Space Systems [4] Market Position - Aerospacelab is targeting private, commercial, and government customers with its satellite constellation systems [5] - The industry is witnessing significant investment, with firms allocating millions to startups that provide integrated ground-based software and global services [5]