French Space Startup U-Space Secures €24 Million to Enhance Satellite Manufacturing
French satellite manufacturer U-Space has secured a €24 million ($27.8 million) Series A funding round to enhance its satellite production capabilities and expand its international presence. The investment was co-led by French crowdfunding venture capital platform, Blast, the French Armed Forces’ Definvest fund (managed by Bpifrance), and Expansion Aerospace & Defense Ventures, with additional participation from Italy’s Primo Capital, France’s Karot Capital, ARIS, and Vertech Finance. This latest round builds upon a €7 million ($8.1 million) seed investment raised in 2022.
Established in 2018, U-Space has focused extensively on preparing for rapid manufacturing scale-up. The company operates an 850 square meter clean room facility, U-Zine, and intends to allocate new capital toward software developments that will significantly increase U-Zine’s output. U-Space has set a goal of producing one satellite per week by 2027, with a longer-term target of manufacturing one satellite per day. U-Space aims to leverage its expanded production capacity to access new commercial markets in Asia and the Middle East.
To date, U-Space has constructed three operational satellites: the bus for a CNES SSA satellite, an in-orbit demonstration satellite, and the first satellite entirely designed, built, and operated by the company. U-Space is scheduled to produce and deliver an additional ten satellites over the coming year, supported by significant contracts with CNES and Safran.
The announcement coincided with French President Emmanuel Macron’s pledge of €4.2 billion ($4.9 billion) in new funding for France’s military space initiatives. These funds, to be utilized before 2030, are designated to strengthen national resilience in space and advance the country’s launch and SSA capabilities. While the specific impact of this government funding on U-Space remains uncertain, investors are optimistic regarding the company’s positioning. “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,” remarked François Charbonnier, Investment Director at Bpifrance.