Vigo-based spacetech startup Kreios Space has raised €8 million in a seed round. According to the startup, this funding marks the largest European investment to date in very low Earth orbit (VLEO) satellite technology.
- Founded in 2021 by Adrián Senar, Jan Mataró, Francisco Boira, Adrià Barceló, Max Amer, and Francisco Bosch, Kreios Space is pioneering an Air-Breathing Electric Propulsion (ABEP) system. The technology collects atmospheric air and converts it into plasma fuel, enabling satellites to maintain low orbits without carrying onboard propellant, solving a key limitation of existing systems.
- Operating satellites at altitudes of 150-400 km, much closer than today’s commercial systems, offers the potential for three times higher image resolution and direct-to-device broadband connectivity without bulky antennas. These capabilities are considered critical for defence, climate monitoring, and disaster response.
- Kreios Space has grown into a 17-person team, attracting talent from Thales, JAXA, and the European Space Agency (ESA). The company has also received support from Spain’s CDTI and the Spanish Space Agency (AEE) under the National Space Technology Programme, reinforcing the country’s commitment to advancing its orbital economy.
- The seed round was led by the NATO Innovation Fund and Berlin-based JOIN Capital, with participation from Grow Venture Partners, Xesgalicia, and Tasivia Global.
- The startup previously raised €2.3 million in 2024 and now plans to conduct its first in-orbit ABEP test and launch its first two satellites into VLEO.
