French satellite manufacturer U-Space has raised €24 million ($27.8 million) in a Series A funding round to expand its satellite production capabilities and grow its international presence.
The round was co-led by Blast, the French Armed Forces’ Definvest fund (managed by Bpifrance), and Expansion Aerospace & Defence Ventures, with additional participation from Primo Capital, Karot Capital, ARIS, and Vertech Finance. The new capital follows U-Space’s €7 million ($8.1 million) seed round in 2022.
Founded in 2018, U-Space operates an 850-square-meter clean room facility known as U-Zine. The company plans to use the funds to invest in new software and automation technologies to dramatically increase production output — targeting one satellite per week by 2027, and eventually, one per day.
The investment reflects surging global demand for new satellites, particularly across Europe. U-Space intends to leverage its enhanced production capacity to secure new commercial opportunities in Asia and the Middle East.
So far, the company has built three satellites currently in orbit, including one for the French space agency CNES, an in-orbit demonstrator, and its first fully in-house designed and operated satellite. U-Space expects to produce and deliver 10 more satellites in the next year, with contracts already signed with CNES and Safran.
The announcement coincides with French President Emmanuel Macron’s pledge of €4.2 billion ($4.9 billion) to strengthen France’s military space activities by 2030 — including enhanced satellite, launch, and space situational awareness (SSA) capabilities.
While U-Space has not disclosed whether it will directly benefit from the new defense funding, investors say the company is strategically positioned to support France’s expanding role in space.
“U-Space actively contributes to France’s sovereign ambitions in the space sector. With its initial successes paving the way for many more to come, it was only natural for Definvest to renew its support,” said François Charbonnier, investment director at Bpifrance, in a statement.
