Balearics satellite projects: Open Cosmos raises €300m
Open Cosmos has raised 300 million euros as its Barcelona operation continues work on Earth-observation and satellite-data initiatives in the Balearic Islands. The satellite maker announced the funding round on Monday, 14 September. It plans to increase serial satellite production and accelerate real-time information and connectivity services from space.
The company’s activity from Barcelona also reaches Andalusia and the Canary Islands. Open Cosmos listed the Balearic initiatives separately from its company-wide plans for the new funding.
Money for satellites and space data
European investors led the round. They include Lightrock, ETF Partners, the Institut Català de Finances, Entrepreneurs First, two international pension funds, A&G Global Investors, Santander Alternative Investments and Sankara.
Open Cosmos says the money will support ConnectedCosmos, OpenConstellation and DataCosmos. These projects cover its push to provide information in real time and connectivity from space.
The company says governments and businesses are putting more money into secure, strategic space systems. Industry and Tourism Minister Jordi Hereu called the deal an example of Spanish companies’ competitiveness in a growing space sector.
Barcelona base reaches the Balearics
Open Cosmos says it has strengthened its Spanish operation in recent years, concentrating industrial capacity, specialist staff and strategic projects there. It recently enlarged a clean room at its Barcelona headquarters, where satellites are designed, built and assembled for Spanish and international clients.
Founder and chief executive Rafael Jordà said the investment would expand the company’s industrial capacity and speed work on new satellite constellations. Over the past three and a half years, Open Cosmos says it has signed new contracts worth about 320 million euros and recorded five consecutive years of profitable growth.
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Source: Europa Press / Mallorca.com