Finnish satellite provider ReOrbit raises $7.4M seed led by Inventure VC
ReOrbit, a Helsinki-based provider of software-enabled satellites, has raised $7.4 million in an oversubscribed seed funding round. Inventure VC led the round, which also saw participation from 10xFounders, existing investor Icebreaker.vc, Expansion, and YesVC.
- Founded in 2019, ReOrbit provides flight software, satellite platforms, and complete systems to Earth Observation and SatCom operators that are optimized for efficient and reliable delivery of space-related data.
- ReOrbit has been profitable since it was founded, gaining strong traction with customers ranging from governmental and institutional sectors to commercial satellite operators within security, SatCom, and Earth observation. The technology is supported by Business Finland, the European Space Agency, and the European Commission, as well as a plethora of new investors.
“This is a very important milestone for ReOrbit, and we are thrilled to have secured this significant support from our new and existing investors. Our outstanding team is dedicated to delivering cutting-edge solutions that meet the highest global quality, security and operability standards. We can now accelerate our development strategy focusing on international expansion and products that make a difference. We have a very strong pipeline, and this funding will enable us to deliver multiple space systems,”Sethu Saveda Suvanam, CEO and Founder of ReOrbit, comments.
- The fresh funding came from the lead investor Inventure VC, a Helsinki-based €230 million Seed and Series A-focused venture capital fund that specializes in helping its portfolio companies with talent and expansion.
- The list of investors who joined the round includes 10xFounders, a network-driven European early-stage investor, as well as existing investors Icebreaker.vc, a Finnish VC firm, Expansion, a France-based €300 million fund, and Yes VC, a Californian early-stage capital fund.