The satellite-powered data company has signed a cooperation agreement with the Luxembourg government to develop a European headquarters in the grand duchy focusing on space platform engineering, data analytics, infrastructure engineering and business development.

The Luxembourg Future Fund has committed to becoming a shareholder in Spire, participating in Spire’s $70m Series C financing round closing later this month. The €150 million Luxembourg Future Fund was set up by the European Investment Fund and the Société Nationale de Crédit et d’Investissement to stimulate the diversification and sustainable development of the Luxembourg economy.

Within the framework of the cooperation agreement, the Luxembourg government will provide funding through the Luxembourg space program (Luximpulse) and other types of R&D grants to the forthcoming operating subsidiary of Spire for research and development activities taking place in Luxembourg.

“We’ll be quickly building out our office here full of some of the world’s best minds. Our talent team is looking forward to tapping into Luxembourg’s population of incredibly talented people in business and engineering,” Spire CEO Peter Platzer was quoted as saying in a press statement.