“EnduroSat is becoming a leading player in the fast-growing small satellite market, drawing on the untapped talent pool of highly skilled and trained scientists and engineers in Bulgaria. What Raycho [editor’s note: Raycho Raychev, the founder and CEO] has achieved to date is truly world class and we share his vision and enthusiasm for the future of space, its benefits to humanity and the potential for EnduroSat to lead this change and become an industry leader. We plan to work with Raycho to accelerate the company’s global growth and help it achieve the vision it had when it began this journey 10 years ago.”
The tribute from Anthony Stalker, partner at Ceecat Capital, is linked to a €9m series A round the startup announced this week. EnduroSat arrived in Luxembourg last December with more than €48m at its disposal, but has been growing at 200% a year for six years.
Offices in Europe and North America
Today, the company has 210 customers, several missions and has delivered more than 2,500 satellite modules flying in orbit on board customers’ satellites. It has offices in Luxembourg, Berlin, Toulouse, Naples and Delaware and a new research centre in Sofia with 3,200 m2 of offices and 700 m2 of state-of-the-art laboratories for testing, assembly and space qualification. Its workforce is expected to grow to 130 people.
The project received support from the European Investment Bank in 2021. Its goal to break the “one mission, one satellite” dynamic to offer modular modules or satellites that do not need to have their components changed for each mission. Customers can also use an app to access space data.
This story was first published in French on Paperjam. It has been translated and edited for Delano.