Open Cosmos closes £260m round led by Lightrock with ETF Partners
This article covers Open Cosmos, a European spacetech startup, which has closed a growth funding round of £260m led by Lightrock. The funding will expand mass satellite manufacturing, grow its ConnectedCosmos, OpenConstellation and DataCosmos services, and scale engineering and software teams across the UK, Spain, Portugal and Greece, supporting governments, enterprises and the broader European spacetech ecosystem.
Open Cosmos, the European spacetech startup building end-to-end satellite infrastructure, has closed a growth funding round of £260 million led by Lightrock, with participation from ETF Partners, Institut Català de Finances (ICF), Entrepreneurs First, Phoenix Court, the National Security Strategic Investment Fund (NSSIF), Convex Group, Claret Capital Partners and two major international pension funds. The capital will be used to expand mass satellite manufacturing, grow its ConnectedCosmos, OpenConstellation and DataCosmos services, and scale engineering and software teams across the UK, Spain, Portugal and Greece.
Why it matters
The raise underscores a shift in how governments and large enterprises view space capability: as critical infrastructure comparable to energy or digital networks. Open Cosmos points to five consecutive years of profitable growth, a high mission success rate and customer contracts worth more than $370 million as evidence that commercial satellite services can be delivered reliably at scale.
The timing also reflects broader market momentum. Global venture investment in space reached $11.3 billion in the first half of 2026, up from $10.1 billion for all of 2025, while European governments are increasingly funding sovereign communications and Earth observation to reduce dependence on non-European systems.
Inside the product
Open Cosmos runs a four-part product architecture. OpenOrbit handles satellite design, build and operation. OpenConstellation lets governments and organisations share satellite infrastructure rather than each funding separate constellations. ConnectedCosmos provides sovereign broadband and IoT communications to link satellites and the ground. DataCosmos transforms imagery and sensor feeds into operational intelligence.
The company says its factories can manufacture one satellite a day across four European sites and that the first ConnectedCosmos satellites were launched shortly after securing access to Liechtenstein's Ka-band spectrum filings. Next-generation OpenConstellation satellites are intended to cut delivery time for Earth observation intelligence from up to 48 hours to as little as 30 minutes. Open Cosmos also demonstrates an end-to-end use case where onboard AI identifies a potential forest fire from rising temperatures, tasks additional satellites, cross-checks terrestrial IoT sensors, and relays intelligence to firefighters even where terrestrial internet is unavailable.
Who are the investors?
The round was led by Lightrock. Other named participants are ETF Partners, Institut Català de Finances (ICF), Entrepreneurs First, Phoenix Court, the National Security Strategic Investment Fund (NSSIF), Convex Group, Claret Capital Partners, and two major international pension funds. The financing mixes private growth capital with public and strategic investors, reflecting both commercial demand and sovereign interest in resilient space services.
In the announcement, Ash Puri, Partner at Lightrock, said:
Lightrock is delighted to be leading Open Cosmos' funding round and supporting this European leader as it enters its next stage of growth in the space economy. The work of Open Cosmos, and the wider space infrastructure sector, underpins global energy, communications, security, and sustainability efforts. Open Cosmos' stellar mission record, manufacturing capability, and scientific expertise position it to become a global leader in this critically important sector, and we look forward to supporting the company on this journey.
In the announcement, Patrick Sheehan, Managing Partner at ETF Partners, said:
The conditions for building world-leading space companies have now converged in Europe. The leadership team at Open Cosmos has demonstrated the calibre of ambition required to convert this expertise into substantial commercial results and has achieved this at remarkable pace. Open Cosmos is already an exceptional business, and we believe it has the potential to become one of Europe's defining infrastructure companies.
In the announcement, Saul Klein, Co-founder & Chair at Phoenix Court, said:
Rafel and the team have spent a decade turning world-class science and engineering into real industrial capability, building a profitable space company that can manufacture satellites at scale and deliver critical sovereign infrastructure. When we give ambitious founders the time and capital to build, Europe can challenge the best in the world and the proof is right here in Open Cosmos.
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Founder perspective
In the announcement, Rafel Jorda Siquier, Founder & CEO at Open Cosmos, said:
Space infrastructure is becoming as critical as energy, digital networks and transport. Governments and enterprises increasingly require secure communications and operational data delivered through resilient systems. But infrastructure alone isn't enough. The real value comes from the intelligence that relays what's happening on Earth in real time and the global connectivity to deliver it. By bringing together satellites, secure communications and AI-powered data services, we're creating a system that transforms information from orbit into something that governments and enterprises can act on. This investment allows us to accelerate that vision, satisfying the satellite manufacturing orders that governments and large companies are placing for our reliable and high-performance satellites and delivering the sovereign services the world needs.
The bigger picture
The financing reflects both commercial traction and a policy shift in Europe toward sovereign space capabilities. Open Cosmos combines hardware manufacturing, communications infrastructure and data services in a single stack, which is attractive to government buyers seeking resilient, interoperable systems. The participation of NSSIF and public financiers such as ICF signals that strategic considerations are part of the investor mix.
For UK and European spacetech startups, the deal shows demand for end-to-end services that deliver actionable intelligence from orbit, not just raw data. As governments prioritise secure communications and rapid Earth observation, companies that can combine manufacturing scale with software-defined data services are likely to draw more capital and public procurement.
The investment will expand capacity and teams across multiple European sites, reinforcing the region's industrial capability in satellites and data services and contributing to the broader aim of reducing reliance on non-European space systems.
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