Open Cosmos Raises 300 Million Euros for Satellite AI

Satellite manufacturer Open Cosmos raised 300 million euros, approximately $346 million, from primarily European investors to expand its manufacturing capabilities and data services. The funding round was led by venture capital firms Lightrock and ETF Partners, with additional participation from Spain's Institut Català de Finances, Entrepreneurs First, and two international pension funds. This investment brings the company's total funding to over $390 million and establishes an estimated valuation of $2 billion.

The company provides Earth-observation data to governments and businesses, specifically targeting climate crisis monitoring for events like wildfires and floods. Open Cosmos intends to use the new capital to integrate artificial intelligence into its satellites, a move designed to reduce data delivery times from hours to minutes.

While the company competes with SpaceX in orbital connectivity, it continues to rely on launch providers such as SpaceX and Blue Origin to deploy its payloads. This funding follows a $450 million round for The Exploration Company and contributes to a global trend that has seen over $16.5 billion invested in space technology start-ups this year.