Spanish IoT satellite company FOSSA has secured €9.25 million (US$10.5 million) in a funding round to support international expansion and the continued deployment of its low Earth orbit (LEO) satellite constellation.
The company said the new capital will be used to expand its commercial operations, strengthen its workforce, develop new security and defense capabilities, and continue building its sovereign satellite infrastructure.
Funding to Support Expansion
The investment round was led by Kibo Ventures and included participation from the Spanish Society for Technological Transformation (SETT), an entity affiliated with Spain’s Ministry for Digital Transformation and the Civil Service.
Additional investors included Space Frontiers Fund II, with SPARX Asset Management serving as fund manager, as well as Indico Capital and WISeSAT.
FOSSA said the funding will support commercial expansion initiatives launched in 2024 while advancing technologies for secure communications and space-based intelligence applications.
Growing LEO Constellation
The company has launched more than 25 satellites to date and plans to expand its constellation to 140 satellites.
Its next satellite launch, expected in the coming weeks, will bring the total number of satellites in orbit to 26.
FOSSA develops satellite infrastructure for Internet of Things (IoT) connectivity, secure communications and space-based signals intelligence (SIGINT).
The company said its technologies are designed for applications across sectors including energy, logistics, agriculture, critical infrastructure and national security.
“In just a few years, we have gone from being a startup to an internationally present company with 25 satellites launched and technology that responds to real needs of industrial, institutional, and governmental clients. Our goal is to establish FOSSA as a European benchmark in sovereign space infrastructure,” said Julián Fernández, chief executive officer and co-founder of FOSSA.
