HELSINKI, Sept. 4, 2023 /PRNewswire/ — ReOrbit, a Helsinki-based leading provider of software-enabled satellites, has completed an oversubscribed Seed funding round for US $7.4M, led by Inventure VC, along with participation from 10x Founders, existing investor Icebreaker.vc, Expansion, and Yes VC.
ReOrbit enables real-time dataflow in space and provides Earth Observation and SatCom operators with flight software, satellite platforms, and complete systems. Thanks to its highly flexible software-first architecture, ReOrbit can adapt its satellites to different missions and support any payloads with powerful flight capabilities whilst keeping cost and time-to-orbit low. ReOrbit has been profitable since it was founded, gaining strong traction with customers ranging from governmental and institutional sectors to commercial satellite operators.
“This is a very important milestone for ReOrbit, and we are thrilled to have secured this significant support from our new and existing investors,” says Sethu Saveda Suvanam, CEO and Founder of ReOrbit. “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”.
“ReOrbit represents the next frontier of the new space economy. We are happy to support the rapid growth of the company and its continuous impressive work on advancing breakthrough technologies in space.”, says Tuomas Kosonen, Partner at Inventure VC.
ReOrbit’s Board of Directors is led by the Chairman of the Board Nishant Batra, Chief Strategy and Technology Officer of Nokia, and includes esteemed members Tuomas Kosonen, Partner at Inventure VC, Markus Räikkönen, Investor at YES VC, Sethu Saveda Suvanam, CEO and Founder of ReOrbit, and John Auburn, Chief Strategy Officer of ReOrbit.
About ReOrbit
ReOrbit provides autonomous and interconnected satellites that are optimized for efficient and reliable delivery of customers space-related data. ReOrbit is creating the most compelling in-space data flow company by augmenting world’s information use via space.
ReOrbit works with the most prominent entities within security, satcom and Earth observation. Our technology is supported by Business Finland, the European Space Agency and the European Commission.
Founded in 2019, ReOrbit is headquartered in Helsinki, Finland with additional offices in Sweden and Argentina. For more information, please visit https://www.reorbit.space/
Contact
Media Contact:
Jana Avdeeva, Marketing Manager, ReOrbit
[email protected]
+358 504344104
SOURCE ReOrbit Oy
