Bulgarian Satellite Maker EnduroSat Secures $104 Million From Google Ventures and EIC Fund to Scale Production
Bulgarian satellite maker EnduroSat has raised $104 million from Google Ventures and the EIC Fund to expand modular satellite production in Bulgaria, marking a major boost for Europe’s growing space and defense industry.
Bulgaria-based satellite manufacturer EnduroSat has raised $104 million in new funding from Google Ventures, the European Investment Council (EIC) Fund, and several other investors as it accelerates production of its small and medium-sized satellites.
The late-stage funding round, led by Riot Ventures with participation from Shrug Capital and Lux Capital, marks a major milestone for the company and for Europe’s growing space ecosystem. EnduroSat did not disclose its latest valuation, but the investment underscores global investor confidence in modular satellite manufacturing as an alternative to mega-constellations such as SpaceX’s Starlink or Amazon’s Kuiper.
Unlike traditional satellite builders, EnduroSat produces modular, “building block” satellites that can be assembled and tested within hours rather than months. The company says this approach reduces production costs significantly while maintaining reliability and performance, appealing to both government and commercial customers seeking secure communications and Earth observation capabilities.
The announcement coincides with the opening of EnduroSat’s new 188,340-square-foot Space Center in Bulgaria, which will enable production of up to two satellites per day, each weighing between 200 and 500 kilograms.
This is the second major funding round for EnduroSat in 2025. In May, it raised €43 million ($50 million) in a round led by Peter Thiel’s Founders Fund. The back-to-back capital injections highlight investor appetite for satellite ventures driving the next generation of connectivity, defense, and in-orbit infrastructure.
Founded more than a decade ago, EnduroSat has deployed over 3,000 modules in orbit and employs 230 people across six locations. The company serves 350 customers worldwide, including 100 in the United States, where it recently expanded its operations.
As Europe seeks to bolster its strategic autonomy in space and defense, EnduroSat’s rapid scaling could position it as one of the region’s flagship space technology players — and a key partner in future dual-use and defense-oriented satellite networks.
