European satellite manufacturer NewOrbit has closed a $18.5m (£13.9m) Series A to open near-Earth orbits to commercial space flights.
NewOrbit is building satellites for Very Low Earth Orbit (VLEO), a band of near-Earth space at 200-300km above ground historically reserved for spy satellites and the International Space Station.
By flying closer to Earth, NewOrbit’s satellites deliver drone-resolution imagery and direct-to-phone connectivity at a fraction of the cost of conventional constellations.
The oversubscribed round was led by Voyager Ventures, with participation from angel investors such as former chief scientist at NVIDIA David Kirk, co-founder and former CEO of TIER Mobility Lawrence Leuschner, and family office Custos. The Series A also included continued backing from Atlantic.vc, Lifeline Ventures, LGF and Illusian.
The capital will fund construction of NewOrbit’s NEO Production Complex, scheduled to open in 2027. The facility will integrate the company’s first commercial satellite for launch in 2028, then ramp from an initial capacity of ten satellites a year to several a week at full pace.
The launch in 2028 will mark the first time commercial customer payloads have been flown between 200-300km above ground.
“For sixty years, VLEO has been treated as too hostile an environment for commercial satellites – but it is in fact the most valuable empty real estate in space,” says Anatolii Papulov, CEO and co-founder of NewOrbi.
“Today, no one in the industry has a reliable, affordable and fast way to fly payloads in very-low Earth orbit. We built our NEO-1 satellite to do exactly that.”
In April, space tech investment group Seraphim Space established its Global Space Futures Advisory Council to address key strategic, commercial and geopolitical opportunities and challenges facing the space sector.
