Open Cosmos to expand production and technology footprint in Greece

Open Cosmos plans to further strengthen its production and technology footprint in Greece following a new €300 million funding round secured to expand satellite production and its services.

Greece is among the countries where the company plans to expand its engineering, production and software teams, with Pallini already serving as one of Open Cosmos’ four production facilities in Europe. Two Greek investment funds, Ireon Ventures and Sustainable Forward Capital (SFC), are also participating in the new funding round. Maria Kalama, CEO of Open Cosmos Aegean, links the new funding to the company’s further expansion in Greece and the country’s growing role in the European space industry.

“Greece is no longer simply a customer in the space services market, but is now actively involved in the development and production of European space technology,” she said. She added that the new capital would enable Open Cosmos to move faster, including by strengthening its engineering, production and software teams in Greece.

The company’s Greek operations are linked to the National Microsatellite Programme. Hyperion GR-1, the first of seven Greek microsatellites being developed by Open Cosmos under the programme, is already in orbit.

Kalama also highlighted the importance of Ireon Ventures and Sustainable Forward Capital participating in the new funding round.

“It is a strong vote of confidence, underscoring that a dynamic ecosystem around space is taking shape in Greece through rapid but steady progress, with expertise, human capital, production activity and now significant investor interest,” she said.

European investors led the funding round, including Lightrock, ETF Partners, Institut Català de Finances (ICF) and Entrepreneurs First, as well as two major international pension funds and a number of other investment firms.

The €300 million will be used to increase satellite production and expand Open Cosmos’ satellite infrastructure globally. The company will also accelerate the development of its ConnectedCosmos, OpenConstellation and DataCosmos services.

Founded in 2015, Open Cosmos designs, manufactures and operates satellite missions across Europe and the UK. According to data released by the company, it has a combined production capacity of one satellite a day across its four European facilities and has secured new contracts worth more than $370 million over the past three and a half years. It has also recorded five consecutive years of profitable growth.

The company employs nearly 400 people across its facilities in the UK, Greece, Spain and Portugal.

One of its key projects is OpenConstellation, the collaborative satellite constellation it is developing. With next-generation satellites already in orbit, Open Cosmos aims to cut the time needed to deliver actionable Earth-observation data from up to 48 hours today to as little as 30 minutes.

The satellites support on-board artificial intelligence (AI) data processing and inter-satellite communications, enabling information to be transmitted more rapidly. ConnectedCosmos focuses on securely connecting satellites with one another and with Earth, while DataCosmos is used to turn satellite imagery and sensor data into real-time actionable intelligence.

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